The world’s largest crypto asset (virtual currency) exchangeThe U.S. Commodity Futures Trading Commission (CFTC) has sued Binance Holdings and its CEO Zhao Changpeng for allegedly violating trading and derivatives rules.
After the information broke, Bitcoin extended its decline, temporarily dropping 3.9% to $26,722. Binance Coin (BNB), the cryptocurrency issued by Binance, fell about 3.5 percent to $315.70.
The CFTC filed a complaint in federal court in Chicago on Thursday. The CFTC said Binance had failed to comply with its proper registration obligations.
The CFTC has been investigating Binance since at least 2021, alleging that it allowed U.S. residents to buy and sell cryptocurrency derivatives. The CFTC typically requires operators to register if they open their platforms to trading on U.S. residents.
Original title:Binance and Zhao Sued by CFTC Over US Regulatory Violations (1)、Cryptocurrencies Decline After Binance, Founder Sued by CFTC(excerpt)
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