crypto strategy

US authorities accuse crypto exchange Binance of “fictitious” compliance

The world’s largest crypto exchange, Binance, and its CEO and founder Changpeng Zhao were sued by the US Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator called an “illegal” exchange and “fictitious” compliance program.

The CFTC sued Binance, Mr. Zhao and its former top compliance officer for “deliberate evasion” of US law, “while engaging in a calculated strategy of regulatory arbitrage to their business advantage.”

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