The U.S. Commodity Futures Trading Commission (CFTC) will probe the Binance cryptocurrency exchange for insider trading and market manipulation. Bloomberg reports.<\/p>\n
According to a source, authorities allege the trading platform conducts its own trades on the basis of client orders before they are filled. No charges have been filed against Binance yet.<\/p>\n
The exchange’s spokesperson said insider trading is unacceptable and outlined strict internal rules to prevent potential breaches.<\/p>\n
In recent months, financial regulators in several countries, including United Kingdom{{AC CLOSE_1}}, Netherlands{{AC CLOSE_2}}, Italy{{AC CLOSE_3}}, Poland{{AC CLOSE_4}}, Japan{{AC CLOSE_5}}, Thailand{{AC CLOSE_6}}, Hong Kong{{AC CLOSE_7}}, Singapore{{AC CLOSE_8}}, South Africa{{AC CLOSE_9}} and a number of others{{AC CLOSE_10}}, issued warnings to investors about the exchange’s activities.<\/p>\n Against this backdrop, Binance CEO Changpeng Zhao published an open letter<\/a>, in which he outlined the exchange’s plans to ensure regulatory compliance and customer protection.<\/p>\n In August, Binance introduced mandatory user verification<\/a> and recruited former U.S. Treasury Department investigator Greg Monahan<\/a> to a role in anti-money-laundering.<\/p>\n Earlier in September, Zhao said that Binance would abandon its ‘decentralised’ model and transform into a licensed entity with a centralised business.<\/p>\n Follow ForkLog’s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. Commodity Futures Trading Commission (CFTC) will probe the Binance cryptocurrency exchange for insider trading and market manipulation.<\/p>\n","protected":false},"author":1,"featured_media":49719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,879,1156],"class_list":["post-49718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-cftc","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49718"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49718\/revisions"}],"predecessor-version":[{"id":49720,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49718\/revisions\/49720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49719"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}