On Monday, major Cryptocurrency fell after the U.S
On Monday, major Cryptocurrency fell after the U.S. Securities and Exchange Commission accused the world's largest cryptocurrency exchange, Nuan Holding Company, and its co-founder, Changpeng Zhao, of violating 13 securities laws.
According to CoinDesk data, Bitcoin fell 5% on Monday to $25857, its lowest level since March 17th. Ethereum fell 4.4% to around $1815, while Coincoin fell 10.7% to around $275.
The U.S. Securities and Exchange Commission accused Binance, the world's largest Cryptocurrency exchange, of "secretly allowing high-value American customers" to trade on Binance.com, in violation of U.S. securities laws. The US securities law prohibits unregistered exchanges from providing services to US clients.
The indictment also states that Zhao (commonly referred to as "CZ") controlled the client's assets and mixed them with personal and company assets.
This article originates from the financial industry
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