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CFTC Says Binance Breaking Rules
CFTC Leader Rostin Behnam said at an event that Binance broke the rules.
Binance was sued by the CFTC in recent weeks. In the details of the lawsuit, it was argued that Binance evaded its responsibilities in derivatives services.
Binance Statement by CFTC Leader
Binancewas sued by the CFTC in recent weeks. The lawsuit alleges that Binance was breaking the rules and evading responsibility for some of its services.
CFTC Leader Rostin Behnam said at a recent Princeton University event that Binance is intentionally breaking the rules on futures and commodities. Behnam, Binance‘s operations outside of US jurisdiction and that its leadership broke rules on operations, including knowingly allowing US citizens to participate in the exchange.
@Princeton DeCenter Spring Conference kicks off with CFTC chair Rostin Behnam on crypto as commodity, and now a panel on what widespread adoption would mean for regulation and governance. pic.twitter.com/pkHhOWuScj
– Andrew Chignell (@AndrewChignell) April 13, 2023
These comments are related to the CFTC’s case against Binance and its CEO Changpeng “CZ” Zhao. The CFTC brought charges of engaging in unregistered futures trading, providing illegal commodity options, failing to register, diligently supervise, or enforce AML/CFT.
As #Binance has grown as a company, we’ve continued to increase our investment of resources towards compliance.
Watch the video below to discover more about our dedicated team and the growth of our compliance efforts.
– Binance (@binance) April 11, 2023
