The filing by the Commodity Futures and Trading Commission may upend the exchange’s operations and could be the first salvo in a regulatory crackdown.
Zed Jameson / Bloomberg via Getty Images fileThe Commodity Futures and Trading Commission filed a complaint against crypto exchange Binance, its co-founder, Changpeng Zhao, and its former chief compliance officer, Samuel Lim, alleging that Binance actively solicited U.S. users and subverted the exchanges own “ineffective compliance program,” according to a filing in Illinois federal court Monday.
Zhao and Lim allegedly “actively cultivated lucrative and commercially important ‘VIP’ customers, including institutional customers, located in the United States,” the complaint said. “Binance is aware of its VIPs’ identities and geographic locations because Binance monitors its sources of transaction volume and fee-based revenue as a matter of course in conducting its operations,” the CFTC complaint alleges.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Binance sued by CFTC for allegedly flouting commodity trading lawsBinance, the world’s largest crypto exchange, was sued by the Commodity Futures Trading Commission Monday for alleged violations of the federal laws...
Leer más »
Bitcoin tumbles as CFTC sues Binance for allegedly violating commodity trading lawsBitcoin tumbles to a 10-day low as Binance faces charges from a U.S. regulator.
Leer más »
CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classificationThe U.S. Commodity Futures Trading Commission suit against cryptocurrency exchange Binance claims that the Ether coin is a commodity, but that only applies to its use by Binance.
Leer más »
Breaking: Bitcoin (BTC) Price Plunges as Binance and CZ Get Sued by CFTCBinance and its CEO Changpeng Zhao find themselves in the crosshairs of the Commodity Futures Trading Commission (CFTC) as the regulatory body files a lawsuit alleging violations of trading and derivatives rules
Leer más »
Binance Bitcoin Trading Volume Hits Lowest Level in 8 Months Following Termination of Zero-Fee TradingZero-fee trade volume accounted for 66% of Binance’s trading volume in mid March prior to the exchange's decision to curb the zero-fee promotion. LedesmaLyllah reports
Leer más »
Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules – Bitcoin NewsThe world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission.
Leer más »