How did Binance allegedly use advertising to promote unapproved products?

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Binance Accused of Using Advertising to Promote Unapproved Financial Products in the UK

Nearly 1,700 British investors have initiated a lawsuit against cryptocurrency exchange Binance, alleging that the company employed advertising campaigns between 2019 and 2020 to promote financial instruments that did not comply with UK regulations. The investors are seeking approximately £150 million in compensation for financial harm allegedly suffered due to these offerings.
Lawsuit Filed in UK High Court

The legal action was formally lodged in the UK High Court on a Monday. The core of the allegation centres on Binance's activities during the 2019-2020 period.
Promotion of Non-Compliant Financial Instruments

The lawsuit contends that Binance's advertising efforts during the specified timeframe were instrumental in promoting products that were not approved by United Kingdom regulators. The specific nature or content of these advertising campaigns has not been detailed in available reports.
Investors Claim Significant Financial Harm

Lawyers representing the investors stated that their clients are ordinary individuals who have invested substantial savings and experienced considerable financial losses. The legal team expressed a determination to hold Binance and its founder, Changpeng Zhao, accountable for operating in a market with limited recourse for consumers when issues arise.

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How did Binance allegedly use advertising to promote unapproved products?

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