SEC Seeks ‘Alternative Means’ to Serve Papers to Binance’s Zhao

As a journalist, I can report that the US Securities and Exchange Commission (SEC) is seeking alternative means to serve legal papers to Changpeng Zhao, the CEO of Binance, one of the world’s largest cryptocurrency exchanges. The SEC has been investigating Binance’s operations for potential violations of US securities laws.

According to court documents filed on June 8, the SEC has been attempting to serve legal papers to Zhao at multiple addresses in the US and abroad, but has been unsuccessful. The SEC is now seeking permission from the court to serve the papers through alternative means, such as email or social media.

This move by the SEC is the latest development in its ongoing investigation into Binance. The SEC has been scrutinizing the exchange’s operations, including its use of leverage and its offering of tokens that may be considered securities under US law.

Binance has faced regulatory challenges in other countries as well. In May, the UK’s Financial Conduct Authority (FCA) ordered Binance to cease all regulated activities in the country. Binance has also been banned in countries such as Japan and Canada.

As a journalist, it is important to note that Binance has denied any wrongdoing and has stated that it is committed to complying with all applicable laws and regulations. The outcome of the SEC’s investigation remains to be seen, but it is clear that regulatory scrutiny of the cryptocurrency industry is increasing.