Federal regulators sued Binance, the world's largest crypto trading platform, and its CEO for allegedly violating trading rules.
Federal regulators sued Binance, the world’s largest cryptocurrency exchange, and its CEO for allegedly violating trading rules. The Commodity Futures Trading Commission, which regulates US derivatives trading, said the company and CEO Changpeng Zhao have circumvented US laws by offering unregistered crypto derivative products to Americans.
The company didn’t immediately respond to requests for comment. But as news of the lawsuit broke Monday, Zhao tweeted the number 4, pointing to a part of a previous statement: “Ignore FUD, fake news, attacks, etc.” FUD is a commonly used acronym among crypto fans that stands for “fear, uncertainty, doubt.” Binance has long argued that it isn’t subject to US laws because it doesn’t have a physical headquarters.
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