Reuters
Crypto exchange Binance, CEO sued by US regulator over violations
Major cryptocurrency exchange Binance and executives, including CEO and founder Changpeng Zhao, have been sued by the U.S. Commodity Futures Trading Commission (CFTC) for regulatory violations, according to a court filing on Monday. Binance, 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. persons,” in violation of U.S. laws, the CFTC said in its complaint. Binance’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.