Binance.US Accused of Misleading Investors When Selling $UST

In a class action lawsuit filed on Monday in North California, cryptocurrency exchange Binance.US has been accused of misleading investors surrounding Terra. The suit, which was filled by U.S.-based law firm Roche Freedman LLP, alleges that Binance.US marketed Terra’s stablecoin $UST as more stable than it actually was. The lawsuit also alleges that Binance.US is not registered as a broker-dealer or an exchange, which may be in violation of securities law after it listed what might be an unregistered security in $UST.