By Bitcoin.com - 9 månader sedan - Läsningstid: 2 minuter
Binance, CZ för att begära avslag på CFTC-klagomål
Crypto utbyte Binance and its founder and CEO Changpeng Zhao (CZ) plan to seek the dismissal of a lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC). On July 27, the trading platform is due to submit its response to the CFTC complaint alleging that it broke derivatives laws in the United States.
Binance, Exchange Executives to Try to Have the CFTC’s Case Dismissed
Binance Holdings, the operator of the world’s largest crypto trading platform, Chief Executive Changpeng Zhao and former Chief Compliance Officer Samuel Lim intend to seek the dismissal of a complaint by the U.S. CFTC against the exchange, according to a court filing on Monday quoted by Reuters and Bloomberg.
In March of this year, the CFTC stämd Binance for alleged violations of U.S. trading and derivatives rules. At the time, the regulator said that at least since July 2019, the exchange had offered and executed commodity derivatives transactions on behalf of U.S. persons.
The lawsuit argued that Binance should have registered with the U.S. agency and noted that the company continued to violate the CFTC’s regulations for years. The regulator accused CZ and his company of operating an “illegal” exchange and having a “sham” compliance program. The exchange is due to submit its response to the CFTC complaint on July 27.
Binance and Zhao have also been targeted in a rättsliga åtgärder by the U.S. Securities and Exchange Commission (SEC) which claims the exchange and its management breached securities laws by selling tokens that the regulator deems unregistered securities while misleading investors and regulators.
The crypto behemoth faces a number of investigations around the world, including an ongoing sond by the U.S. Justice Department over suspected money laundering violations and sanctions evasion. Authorities in Belgium beordrade Binance to cease all crypto services while French prosecutors lanserades a money laundering investigation.
Billionaire Changpeng Zhao has sought to reassure customers following news of chefer lämnar the company and reports about massive uppsägningar. Against the backdrop of the legal battles with U.S. regulators, Binance’s American subsidiary saw its market share krympande significantly last month.
Amid the current regulatory crackdown on the crypto industry in the U.S., blockchain firm Rippleär partiell domstolsvinst in a lawsuit with the SEC over its XRP token as well as the securities regulator’s decision to formally acceptera financial giant Blackrock’s application for a spot bitcoin ETF have given cause for optimism.
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Ursprunglig källa: Bitcoin.com