NewsHK
Nearly 1,700 United Kingdom-based users have filed suit against Binance, the world's largest cryptocurrency exchange, and its founder in a London court, alleging the platform sold risky financial products without regulatory approval.
The action represents one of the largest retail-led legal challenges to Binance's operations in a major Western market and adds fresh litigation pressure to an exchange that has faced sustained scrutiny from financial regulators globally.
The Allegation: Risky Products, No Authorisation The claimants contend that Binance made financial products available to UK consumers without holding the necessary approval from British regulators to do so.
The case targets both the exchange and its founder personally, a structure that expands potential liability beyond the corporate entity.
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