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🚨 Breaking: CFTC Sues Binance & CZ - Unpacking the Allegations 📉 #BinanceLawsuit
The CFTC has sued crypto exchange Binance & CZ over allegations of knowingly offering unregistered crypto derivatives products in the US & violating federal laws.
Let's dive into the details.🧵👇
The CFTC has sued crypto exchange Binance & CZ over allegations of knowingly offering unregistered crypto derivatives products in the US & violating federal laws.
Let's dive into the details.🧵👇
1/ 🔍 The lawsuit alleges that Binance operated a derivatives trading operation in the US, offering trades for cryptocurrencies like BTC, ETH, USDT, and BUSD, referred to as commodities in the suit. #Binance is accused of directing employees to use VPNs to spoof their locations.
2/ CFTC's Charges Against Binance📜
The CFTC is charging Binance with violating laws around offering futures transactions, illegal off-exchange commodity options, failing to register as a futures commissions merchant, designated contract market or swap execution facility & more
The CFTC is charging Binance with violating laws around offering futures transactions, illegal off-exchange commodity options, failing to register as a futures commissions merchant, designated contract market or swap execution facility & more
