Binance Sued by 1700 British Investors Over Unapproved Products

Nearly 1,700 British investors have filed a lawsuit against cryptocurrency exchange Binance in the UK High Court.

The lawsuit alleges that in 2019-2020, Binance used advertising campaigns to promote products not approved by UK regulators.

According to the Financial Times newspaper, cited in Sputnik/RIA Novosti, the investors are seeking £150 million (US$198.8 million) in compensation for financial harm suffered.

A lawyer representing the clients stated that 'our clients are ordinary people who committed significant savings and have suffered real financial harm.'