cryptocurrency3 years ago
Binance's Legal Woes and Reputation Risks Amidst Crypto Market Boom
Binance, one of the world's largest cryptocurrency exchanges, is being sued by a US regulator for allegedly offering perks to "flash boys" who use its platform. The Commodity Futures Trading Commission (CFTC) claims that Binance allowed US customers to trade cryptocurrency derivatives without being registered with the agency. The lawsuit also alleges that Binance offered preferential treatment to high-frequency traders, known as "flash boys," and failed to maintain adequate anti-money laundering procedures.