The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Binance Holdings Ltd, the world’s largest cryptocurrency exchange, and its CEO, Changpeng Zhao, for alleged violations of US regulations.
The CFTC alleges that Binance illegally offered derivatives trading to US customers without registering with the agency, failed to implement anti-money laundering procedures, and violated reporting and record-keeping requirements.
The lawsuit seeks civil monetary penalties and trading bans against Binance and Zhao. Binance has not yet commented on the lawsuit.
