The Commodity Futures Trading Commission on Monday filed a lawsuit against cryptocurrency exchange platform Binance and certain executives in Illinois Northern District Court. The suit alleges that although around 16 percent of its accounts are held by U.S. customers, Binance has ‘disregarded’ U.S. registration and regulatory requirements. It further alleges that the defendants have ‘facilitated violations of U.S. law’ by encouraging customers to circumvent compliance controls. Counsel have not yet appeared for the defendants. The case is 1:23-cv-01887, Commodity Futures Trading Commission v. Zhao et al.
Fintech
March 27, 2023, 12:22 PM