According to AFP report, the chairman of the Commodity Futures Trading Commission, Rostin Behnam, said the charges against Binance, the world’s largest crypto exchange, were part of a campaign to “find and stop misconduct in the volatile and risky digital asset market.”
The allegations targeted Zhao, also known by his Twitter handle CZ, and three entities that make up his crypto empire. Zhao was often presented as the archrival of crypto tycoon Sam Bankman-Fried, the founder of FTX, who was arrested in the Bahamas in December and faces a US criminal trial later this year.
“For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance,” Behnam said in a statement.
Source: Digital Coin News (digitalcoinnews.net)
Correction US-binance not binance global
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