However, because the prices of cryptocurrencies can fluctuate greatly, concerns have been raised regarding the risks involved.

In an effort to increase transparency, regulators from around the world have stepped up their pressure on cryptocurrency exchanges.

Both in Europe and the United States, Binance is encountering difficulties.

The Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission are suing the exchange in the US because they claim it has been operating there unlawfully and in violation of regulations meant to safeguard investors.

The company and its founder, Changpeng Zhao, have both been charged by the SEC with misusing client cash.

Defending its methods is Binance. To avoid a complete asset freeze, the company’s US businesses are currently in discussions with the SEC.