- The subpoena is related to the lawsuit of the US Securities and Exchange Commission
- According to the document, Changpeng’s address on the Mediterranean island of Malta
- Neither the SEC nor Binance have confirmed this information.
- CZ has 21 days to reply
U.S. District Court in Washington, D.C. sent subpoena to the CEO of the Binance cryptocurrency exchange, Changpeng Zhao. This comes just two days after the SEC filed a lawsuit against the exchange over alleged unregistered securities trading.
The agenda says:
“A lawsuit has been filed against you”
There are currently very few details, the subpoena has not been marked as served, and no one, neither the SEC nor Binance, has responded to a request for information.
Zhao is not required to appear in person in court, but he must respond to the subpoena after receiving it in accordance with the law. According to the document, after receiving the document, Binance and its CEO are given 21 days to respond. If, however, there is no answer, then a court decision can be taken against the accused.
The beginning of the new week turned out to be difficult for the cryptocurrency sector. The SEC has filed lawsuits against two cryptocurrency exchanges, Binance and Coinbase. Binance has responded to a lawsuit filed by the Securities and Exchange Commission. It states that the SEC complaint is aimed at unilaterally determining the structure of the cryptocurrency market.
CZ responded on his Twitter to this subpoena. He wrote that he would not have to appear in court.