The U.S. regulator has accused the world’s largest crypto-trading platform and Zhao, the company’s Chinese-Canadian CEO, of offering derivatives trading to Americans without proper registration. (Bloomberg)
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The U.S. regulator has accused the world’s largest crypto-trading platform and Zhao, the company’s Chinese-Canadian CEO, of offering derivatives trading to Americans without proper registration. (Bloomberg)
Talking point: The lawsuit marks the biggest blow to the platform by U.S. regulators to date. The Commodity Futures Trading Commission is just one of multiple U.S. agencies that have reportedly investigated Binance for various suspected violations, as part of a growing crackdown on the sector in the country. Meanwhile, in Canada, where Binance is the third most popular crypto platform, a deadline for unregistered platforms to submit an agreement to follow certain rules in order to continue operating passed on Friday. Bryan Tritt, a spokesperson for Binance Canada, reiterated a previous statement, saying it is working with regulators to finalize its Canadian agreement.
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