Class action filed on behalf of users trading UST on Binance US.
Binance US, the US arm of Binance, the world’s largest crypto asset trading platform, has filed a class action lawsuit by Dontzin Nagy & Fleissig and Roche Freedman on behalf of users trading LUNA and UST on the platform. The plaintiffs claimed that Binance.US sold unregistered securities and misled them. The 72-page complaint also alleged that Binance.US had listed and sold UST even though it was not registered as a broker-dealer, which violated US securities laws.
Company spokesperson said in a statement on the subject, “ Binance.US is registered by FinCEN and complies with all regulations. (…) These allegations are baseless and we will defend ourselves fiercely” . The spokesperson also told The Block that LUNA was never listed on the Binance.US platform, while UST was removed from the platform last night.
