Introduction
Binance CEO Changpeng Zhao has asked the court to find an alternative way to serve him with legal documents in a case filed by the US Securities and Exchange Commission (SEC). The SEC has accused Binance of illegally offering securities to US residents.
Background
The SEC filed a lawsuit against Binance in April 2021, alleging that the cryptocurrency exchange had sold unregistered securities to US residents. The SEC claimed that Binance had failed to register as a securities exchange, and had violated the anti-fraud provisions of the federal securities laws.
The Issue
According to court documents, the SEC has been trying to serve Zhao with legal documents related to the case, but has been unable to do so. The SEC has attempted to serve Zhao at his last known address in Singapore, but has been unsuccessful.
The Motion
In response, Zhao has filed a motion with the court to find an alternative way to serve him with legal documents. Zhao’s lawyers have suggested several alternative methods, including email, social media, and international courier services.
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Conclusion
The case between Binance and the SEC is still ongoing, and the outcome is uncertain. However, the issue of serving legal documents is an important one, as it highlights the challenges of enforcing regulations in the global cryptocurrency industry. As the industry continues to grow and evolve, regulators will need to find new ways to ensure compliance and protect investors.
