The US Commodity Futures Trading Commission (CFTC) is taking crypto platform Finance and its founder Changpeng Zhao to court. Binance has flouted regulations over the years, including executing transactions and services without the required license.
The Commodity Futures Trading Commission (CFTC) is a regulator that oversees the futures and options markets in the United States. The watchdog says it has known for years that Binance was not operating according to regulations. According to the US regulator, the lawsuit filed against Binance is part of a broader crackdown on misconduct in the crypto world.
The CFTC wants fines and a trading ban
Binance has been under the magnifying glass in the United States (US) for some time. The CFTC now wants to impose fines and trading bans on the crypto platform. Apart from founder Changpeng Zhao, the regulator also sued former director Samuel Lim.
The crypto platform has responded that it is disappointed by the indictment. It points to two years of working with the CFTC to comply with US regulations. This means, among other things, that the platform actively blocks users and IP addresses from the United States (US).
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