The Manhattan Court of Appeals has just confirmed a class action against Binance, the cryptocurrency giant 🌍. Accused of having sold unregulated tokens (such as ELF, EOS, ICX or TRX) to American investors in 2017, the platform is now at the center of a trial with colossal stakes 💥. The plaintiffs believe that Binance did not provide sufficient information on the risks associated with these volatile assets, which have seen their value collapse 📉.
🛡️ Binance does not convince justice
In its defense, Binance tried to prove that it was not a US company, but the Court ruled that the platform operated on US soil. At issue: purchases made in the United States and the use of Amazon servers in the country 🇺🇸. Result: Binance cannot escape US jurisdiction, and the trial continues its course.
🌪️ A complicated year already
This is not the first time Binance has found itself under pressure in 2023. The platform has already had to pay a historic $4.3 billion fine for violations of anti-money laundering laws, while its former CEO, Changpeng Zhao, was sentenced to four months in prison ⛓️.
🌀 Increasingly strict regulation?
While Donald Trump has promised to curb SEC actions against the crypto sector, this case shows that US regulators are not letting up their grip 💼. The future of cryptocurrencies in the United States remains uncertain: tightening regulations or relaxing the rules? 🤔
💡 Source : Cryptoast