The lawsuit claims that Binance unlawfully sold cryptocurrency derivatives to retail investors without the proper registration.
The leading global crypto exchange Binance has been named defendants in a class action suit that is currently ongoing in Canada. The regulator sought to show that the company breached securities laws in relaxed jurisdictions by selling crypto derivatives without getting prior approval.
Cryptocurrency exchange Binance is embroiled in a legal battle in Canada as it faces a class-action lawsuit for allegedly breaching local securities laws. The lawsuit, filed in Ontario's Superior Court of Justice, accuses Binance of selling crypto derivative products to retail investors without proper registration, contravening the Ontario Securities Act (OSA) and federal law.
Binance is facing yet another regulatory scoop! In a recent landmark decision, Ontario's Superior Court of Justice has given the green light to a class action lawsuit against Binance Holdings Ltd., a major player in the world of cryptocurrency trading.
Even after Binance announced departure from Canada in May 2023, local authorities have continued to investigate the exchange.
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