The entity also reported that it sued Binance CEO Changpeng “CZ” Zhao. The entity maintains that Binance failed to meet its obligations by failing to properly register with it. Binance did not immediately respond to a request for comment, and a CFTC spokesperson did not immediately reply.
It should be noted that the company has been under investigation since at least 2021, seeking to determine if it failed to prevent US residents from buying and selling crypto derivatives. CFTC rules usually require platforms to register with it if they allow Americans to trade such products.
The Internal Revenue Service (IRS), and federal prosecutors, have also been monitoring Binance’s compliance with anti-money laundering regulations, Bloomberg News reported. For its part, the Securities and Exchange Commission (SEC) examined whether the stock market contributed to the trading of unregistered securities.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
