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S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators

The Securities and Exchange Commission on Monday accused Binance, the world’s largest cryptocurrency exchange, of mishandling customer funds and lying to American regulators and investors about its operations, in a sweeping case that has the potential to remake the landscape of power and wealth within crypto.

The S.E.C.’s lawsuit was the second time this year that federal regulators have accused Binance of evading laws designed to protect…

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