Svmuu News: Approximately 1,700 British investors have filed a class-action lawsuit in the High Court of Justice in London against Binance and its founder, Changpeng Zhao, seeking at least 150 million pounds,approximately $200 million, alleging that the cryptocurrency trading platform has been selling high-risk, complex derivatives—such as leveraged products—to British retail investors without regulatory authorization since late 2019, in violation of the Financial Services and Markets Act. Some plaintiffs claim to have lost tens of thousands of pounds. Binance A spokesperson said the company would defend its position but declined to comment further on the pending litigation.In 2021, the UK’s Financial Conduct Authority banned crypto firms from offering derivatives to retail investors, prompting Binance to subsequently implement measures restricting access for UK users. Binance holds its primary license in the United Arab Emirates, and its application for a license in Greece was rejected earlier this month. (Reuters)