LIVEš¢ Binance sued in Canada, CZ could serve 36 months in prison: Law Decoded:
š„Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao.
š„Binance, a digital currency platform, faces a fresh class-action lawsuit in Canada, where complainants assert the company breached regional financial regulations.
š„Ontarioās Superior Court of Justice published a certification motion for a class-action lawsuit against Binance alleging that it sold crypto derivative products to retail investors without registration.
š„The legal action aims for compensation and nullification of illicit derivative transactions. The claimants contended that numerous Canadian users of the Binance platform engaged in investments concerning its cryptocurrency derivative offerings.
š„The Philippines Securities and Exchange Commission (SEC) ordered both Google and Apple to remove the Binance app from their respective app stores for users in the Philippines.
