Binance CEO Addresses Four Key Issues In His Response To CFTC’s “Disappointing” Complaint
Join Our Telegram channel to stay up to date on breaking news coverage Binance, the largest cryptocurrency exchange by trading volume, is in trouble. The US Commodity Futures Trading Commission (CFTC) just slammed it with a “ civil enforcement action. ” This cannot be good news for the Changpeng Zhao-led company as the CFTC alleges that Binance and its Chief Executive Officer (CEO), violated federal laws. The charges were placed on three persons, Binance ( Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited ), Changpeng Zhao a.k.a CZ, the CEO of Binance, and Samuel Lim, the former Chief Compliance Officer (CCO) of Binance between 2019-2022. This is not a mild charge by the CFTC as the over 1000-word civil enforcement action complaint against the exchange stated “For years Binance knew they were violating CFTC rules.” and its efforts to comply with futures and derivatives trading laws “have been a s...