The Globe and Mail reports in its Tuesday edition that the U.S. Securities and Exchange Commission on Monday accused Binance, the world's largest cryptocurrency exchange, of mishandling customer funds and lying to U.S. regulators and investors about its operations. A New York Times item inside The Globe says authorities have amped up a sweeping case that has the potential to remake the crypto landscape. The SEC's lawsuit was the second time this year that federal regulators have accused Binance of evading laws designed to protect investors. Regulators have long seen the exchange, which has said it does $65-billion (U.S.) in average daily trading volume, as a major target in their quest to bring to heel a crypto industry that has been built around an explicitly anti-government ethos. In the 136-page complaint, the SEC said Binance had mixed billions of dollars in customer funds and secretly sent them to a separate company, Merit Peak Ltd., which is controlled by Binance's founder, Changpeng Zhao. The complaint also said Binance had misled investors about the adequacy of its systems to detect and control manipulative trading and about its efforts to restrict U.S. users from trading on its international platform.