Bitcoin tumbles to a 10-day low as Binance faces charges from a U.S. regulator.
Bitcoin tumbled Monday to a 10-day low, after the Commodity Futures Trading Commission sued the operator of the world’s largest crypto exchange Binance, its chief executive Changpeng Zhao and some affiliates for alleged violations of the federal laws governing commodities markets.
CFTC... Bitcoin tumbled Monday to a 10-day low, after the Commodity Futures Trading Commission sued the operator of the world’s largest crypto exchange Binance, its chief executive Changpeng Zhao and some affiliates for alleged violations of the federal laws governing commodities markets. CFTC alleged that Binance failed to register with the agency, despite its “solicitation of and reliance on customers located in the United States to generate revenue and provide liquidity for its various markets,” according to a filing with the federal court in Illinois Monday.
Binance.com doesn’t provide access to U.S. customers, the company has said, while Binance.U.S., which claims to be a separate legal entity, targets U.S. customers.U.S. regulators have been doubling down their efforts to increase oversight of the crypto industry, after several major companies collapsed last year, resulting in billions of investors’ losses.
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