Class action filed against Binance.US for sale of TerraUSD
A class-action lawsuit has been filed against Binance.US,
the American affiliate of global crypto exchange Binance, over the sale of TerraUSD (UST) to buyers in the US.
The lawsuit alleges that Binance.US sold unregistered securities to the plaintiffs, misleading them in the process.
The lawsuit alleges that Binance.US listed and sold UST despite the fact it is not registered as a broker-dealer, which, it says, is a violation of US securities laws.
This lawsuit could be the first of a number of legal complaints triggered by the breakdown of UST in May.
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