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Cryptocurrency exchange Binance is facing increasing pressure from regulators around the world. After being banned from operating in the UK, Binance is now facing a potential class-action lawsuit in the US over allegations of fraud and selling unregistered securities.

The lawsuit, filed in California federal court, alleges that Binance engaged in a "massive fraud" by selling unregistered securities, including its own cryptocurrency, BNB. The plaintiffs, who claim to have lost millions of dollars, also accuse Binance of making false and misleading statements about its platform and cryptocurrencies.

Binance has come under fire in recent months for its lack of regulation and transparency. The exchange is not licensed to operate in the US, and it has been accused of facilitating money laundering and other illicit activities.

In March, the Securities and Exchange Commission (SEC) launched an investigation into Binance's role in the collapse of the Terra ecosystem. The SEC is reportedly looking into whether Binance sold unregistered securities, such as LUNA and UST, to US customers.

Binance has denied any wrongdoing, and the exchange is cooperating with regulators. However, the increasing pressure from regulators could eventually force Binance to change its business practices or leave the US market altogether.

Here are some key points from the lawsuit against Binance:

The plaintiffs allege that Binance sold unregistered securities, including its own cryptocurrency, BNB.

The plaintiffs claim to have lost millions of dollars due to Binance's alleged fraud.

The lawsuit accuses Binance of making false and misleading statements about its platform and cryptocurrencies.

Binance is not licensed to operate in the US, and it has been accused of facilitating money laundering and other illicit activities.

The SEC is reportedly investigating Binance's role in the collapse of the Terra ecosystem and whether the exchange sold unregistered securities to US customers.

Binance has denied any wrongdoing and is cooperating with regulators.