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CFTC sues Binance over alleged breaking of trading and derivatives rules
The CFTC has filed legal action against Binance and two company executives for violating commodity law.
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The Commodity Futures Trading Commission (CFTC) has filed a complaint against Binance over allegations of regulatory violations.
A civil action was filed with the District Court of the Northern District of Illinois named Changpeng Zhao (CZ), Samuel Lim, and three Binance companies in the lawsuit.
It alleged that the defendants had facilitated trading and derivative orders on commodities for U.S. citizens illegally.
“has solicited and accepted orders, accepted property to margin, and operated a facility for the trading of futures, options, swaps, and leveraged retail commodity transactions involving digital assets that are commodities including bitcoin (BTC), ether (ETH), and litecoin (LTC) for persons in the United States.“
More details to follow.
