Breaking: binance and cz_binance have been sued by CFTC for alleged regulatory violations, sending Bitcoin and BNB prices plummeting. Binance CFTC cryptocurrency regulation
The lawsuit was filed in federal court in Chicago on Monday, accusing Binance andIt claims that Binance has solicited and accepted orders from U.S. customers involving spot and derivative transactions since July 2019 despite not being registered with the CFTC.
The crypto giant has intentionally obscured the location of its executive offices, with Zhao stating that Binance's headquarters is wherever he is at any given time.and its officers have actively facilitated violations of U.S. law, instructing U.S. customers to use VPNs to evade compliance controls and allowing customers who had not submitted proof of identity and location to continue trading on the platform. They have also directed VIP customers with assets in the U.S.
The news of the lawsuit has sent shockwaves through the cryptocurrency market, with the price of Bitcoin plunging to $26,766, a 4.4% drop for the day. The flagship cryptocurrency has now reached a 10-day low. About the authorAlex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.
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