, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao, are facing a lawsuit from the U.S. Commodity Futures Trading Commission (CTFC) for allegedly breaking trading and derivatives rules.
e commodities watchdog sued BINANCE and Zhao in a Chicago Federal Court for allegedly violating its rules on derivatives and trading.
The CEO has dismissed the allegations as FUD.
Earlier this year, Chairman Rostin Behnam promisedenforcement actioncrypto companies that don’t comply with its rules.
Binance has been under scrutiny from U.S. senators for purported lax KYC/AML procedures. I also allegedly hid the interrelationships between its different business units.
This is a developing