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Binance and founder Changpeng Zhao sued by CFTC for allegedly violating trading rules
The Commodity Futures and Trading Commission filed a complaint against crypto exchange Binance and its co-founder, Changpeng Zhao, in Illinois federal court Monday, alleging that it the exchange took a “calculated” approach to soliciting U.S. customers in violation of federal regulations, according to a court filing. Zhao and his former top compliance officer, Samuel Lim, allegedly “actively cultivated lucrative and commercially important ‘VIP’ customers, including institutional customers, located in the United States,” the complaint said. Binance and Zhao took steps to purposefully obscure where the ... (full story)
