Binance to seek dismissal of CFTC complaint
Binance and its CEO Changpeng Zhao are planning to seek dismissal of a CFTC complaint accusing the crypto exchange of violating the Commodity Exchange Act.
The online cryptocurrency exchange Binance, and its CEO Changpeng Zhao are planning to seek dismissal of a CFTC complaint accusing the crypto exchange of violating the Commodity Exchange Act and certain related federal regulations.
The CFTC alleged that Binance operated an ‘illegal’ exchange and had a ‘sham’ compliance program, and the company is obliged to respond until the July 27th
As we wrote earlier this year, the company is also facing a lawsuit from the SEC and is under investigation by the Justice Department for suspected money laundering and sanctions violations. The online exchange is also under the scrutiny of financial regulation in Belgium, as they ordered the halt of the operation in that country.
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