Recently, a former official from the U.S. Securities and Exchange Commission (SEC) has warned the cryptocurrency exchange Binance of potential criminal charges. The official, Hester Peirce, who is now a commissioner at the SEC, stated that Binance may be subject to criminal charges if it continues to offer services to U.S. customers without registering with the SEC.

Binance is one of the world’s largest cryptocurrency exchanges, and it has become increasingly popular among U.S. customers in recent years. However, the exchange has not registered with the SEC, which is required for any exchange that offers services to U.S. customers.

Peirce warned that if Binance continues to offer services to U.S. customers without registering with the SEC, it could be subject to criminal charges. She noted that the SEC has the authority to bring criminal charges against exchanges that fail to register with the agency.

Peirce’s warning comes at a time when the SEC is ramping up its enforcement efforts against unregistered cryptocurrency exchanges. The agency recently brought charges against EtherDelta, an unregistered exchange, for operating an unregistered securities exchange.

It is important for cryptocurrency exchanges to be aware of the regulations that apply to them and to ensure that they are in compliance with those regulations. Failure to do so could result in serious consequences, including criminal charges.

For its part, Binance has stated that it is in compliance with all applicable laws and regulations. The exchange has also stated that it is working with regulators to ensure that it is operating in accordance with the law.

The warning from Peirce serves as an important reminder for cryptocurrency exchanges to ensure that they are in compliance with applicable laws and regulations. Failure to do so could result in serious consequences, including criminal charges.