- The subpoena relates to a lawsuit by the U.S. Securities and Exchange Commission
- According to the document, Chanpen’s residential address is on the Mediterranean island of Malta
- No SEC or Binance confirmed this information
- CZ has 21 days to respond
The U.S. District Court in Washington, DC, has issued a subpoena to the CEO of the cryptocurrency exchange Binance, Chanpen Zhao. This comes just two days after the SEC filed a lawsuit against the exchange over alleged unregistered securities transactions.
The subpoena says:
“A lawsuit has been filed against you.”
For now, details are extremely scarce, the subpoena is not marked as served, and no one, SEC or Binance, has answered the request for information.
Zhao is not required to appear personally, but he must respond to the subpoena after receiving it as required by law. According to the document, after receiving the document, Binance and its CEO have 21 days to respond. If there is no answer, the defendant can be taken to court.
The beginning of the new week was not easy for the cryptocurrency sector. SEC files lawsuits against two cryptocurrency exchanges, Binance and Coinbase. Binance responds to Securities and Exchange Commission lawsuit. It states that the SEC’s complaint seeks to unilaterally determine the structure of the cryptocurrency market.
CZ responded on its Twitter account to the subpoena. He wrote that he would not have to appear in court.