Binance CEO responds to CFTC lawsuit over alleged compliance violations.
TL;DR Summary
Binance CEO Changpeng Zhao has responded to the lawsuit filed by the US Commodity Futures Trading Commission (CFTC) alleging that Binance operated a derivatives trading operation in the US, calling it an "incomplete recitation of facts." The lawsuit alleges that Binance directed its employees to spoof their locations through the use of virtual private networks and directed customers in the US to use a variety of methods to evade restrictions on US-based customers. Zhao highlighted Binance's compliance technology and its 750 people in its compliance teams, many with prior law enforcement and regulatory agency backgrounds.
- Binance CEO Zhao Calls CFTC Suit an ‘Incomplete Recitation of Facts’ CoinDesk
- Binance and founder Changpeng Zhao violated compliance rules to attract U.S. users, CFTC alleges CNBC
- The US case against Binance calls out one of the worst-kept secrets in crypto CNN
- The CFTC Comes for Binance - Bloomberg Bloomberg
- Binance: CFTC sues cryptocurrency exchange and its CEO CNBC Television
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