![]() ![]() Its trading volumes hit $34 trillion in 2021. Its core exchange, the world's biggest, processed trades worth about $23 trillion last year, according to data provider CryptoCompare. law," CFTC Chairman Rostin Behnam said in a statement.īinance dominates the global digital asset sector. This should be a warning to anyone in the digital asset world that the CFTC will not tolerate willful avoidance of U.S. During the ongoing global crypto market stress, the focus of market. "For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance. It also accused Binance's former Chief Compliance Officer Samuel Lim of aiding and abetting Binance's violations.īinance did not immediately respond to a request for comment. Binance has said that it is under stress, which forced the exchange to stop withdrawals for some time on Friday. laws, the CFTC said in its complaint.īinance's compliance program has been "ineffective" and the firm, under the direction of Zhao, told employees and customers to go around compliance controls, the CFTC said. Commodity Futures Trading Commission (CFTC) for regulatory violations, according to a court filing on Monday.īinance, the world's biggest crypto exchange, had from at least July 2019 to the present "offered and executed commodity derivatives transactions on behalf of U.S. Major cryptocurrency exchange Binance and executives, including CEO and founder Changpeng Zhao, have been sued by the U.S. ![]()
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