The US district court in Washington, D.C. has issued a summons for Binance CEO Changpeng Zhao (CZ) following the Securities and Exchange Commission's (SEC) lawsuit against the cryptocurrency exchange. The summons states that CZ's current residential address is in Malta. While details are limited, CZ is required to respond to the summons once served. Binance and CZ will have 21 days to respond, and failure to do so may result in a default judgment. The SEC's lawsuit accuses Binance of unregistered securities operations, including the sale of internal products and services and failure to properly register its arms as exchanges. Binance has disputed these allegations, emphasizing its differences from previous exchange failures and denying fund misappropriation and political donations. The outcome of this case could have significant implications for Binance and the wider cryptocurrency industry.
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