Binance had from at least July 2019 to the present ‘offered and executed commodity derivatives transactions on behalf of U.S. persons,’ in violation of U.S. laws, the CFTC said in its complaint
Major cryptocurrency exchange Binance and executives, including CEO and founder Changpeng Zhao, have been sued by the U.S. Commodity Futures Trading Commission for regulatory violations, according to a court filing on Monday.
Binance, the world’s biggest crypto exchange, had from at least July 2019 to the present “offered and executed commodity derivatives transactions on behalf of U.S. persons,” in violation of U.S. laws, the CFTC said in its complaint. Binance’s compliance program has been “ineffective” and the firm, under the direction of Zhao, told employees and customers to go around compliance controls, the CFTC said. It also accused Binance’s former Chief Compliance Officer Samuel Lim of aiding and abetting Binance’s violations.“For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
N.S. Crown's appeal of ex-teacher's sentence for sex offences set for July | SaltWireConditional sentence, probation for luring and kissing girl 'demonstrably unfit'
Read more »
China’s commerce minister holds meeting with Apple CEO Tim CookChinese commerce minister Wang Wentao and Apple CEO Tim Cook spoke about stabilizing industrial and supply chains, the commerce ministry said
Read more »
Algoma Steel workers warned to ‘strictly adhere’ to safety rulesCEO commits to meet with concerned faculty from Algoma University about environmental issues
Read more »
Philadelphia Flyers chairman Dave Scott to retire in AprilRecently hired CEO Dan Hilferty will succeed Scott in the chairman position.
Read more »
Helium bottoms out in oversold territory- here’s what investors can expect nextAssessing the prospects of an HNT recovery as sell pressure runs out. A strong bounce-back may not be on the cards following Binance’s delisting. Helium’s native token HNT had a rough start in the second half of March. Binance delisted it from its exchange, triggering massive outflows which led to a hard crash. But is […]
Read more »
Military under fire as thousands of troops face lost cost-of-living allowance - Terrace StandardMilitary under fire as thousands of troops face lost cost-of-living allowance
Read more »