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CFTC Sues Binance, CEO Zhao Over 'Willful Evasion' of U.S. Laws, Unregistered Crypto Derivatives Products
By Nikhilesh De, Jack Schickler, Oliver Knight, Jesse Hamilton, Cheyenne Ligon at 2025-02-01 02:41
Sentiment: Negative
The U.S. Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and founder Changpeng “CZ” Zhao Monday on allegations the company knowingly offered unregistered crypto derivatives products in the U.S. against federal law. The lawsuit alleges Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleged that the company, under CZ’s leadership, directed its employees to spoof their locations through the use of virtual private networks. Continue reading...
Categories: Finance
Tags: #Binance #CZ #CFTC #Lawsuit #Derivatives #Changpeng "CZ" Zhao
Source CoinDesk