{"id":76344,"date":"2023-03-28T19:11:23","date_gmt":"2023-03-28T16:11:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76344"},"modified":"2025-09-10T16:53:06","modified_gmt":"2025-09-10T13:53:06","slug":"cftc-chief-explains-lawsuit-against-binance","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cftc-chief-explains-lawsuit-against-binance\/","title":{"rendered":"CFTC chief explains lawsuit against Binance"},"content":{"rendered":"<p>Binance&#8217;s actions are a clear case of evading the law, and U.S. authorities should have intervened aggressively and as quickly as possible. This was stated by <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> Rostin Behnam on CNBC.<\/p>\n<p><iframe width=560 height=349 src=https:\/\/player.cnbc.com\/p\/gZWlPC\/cnbc_global?playertype=synd&#038;byGuid=7000292035 frameborder=0 scrolling=no allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen ><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c[\u2026] this was ongoing fraud \u2014 dating back to 2019 \u2014 and a violation of the Commodity Exchange Act,\u201d the official stressed.<\/p>\n<\/blockquote>\n<p>According to him, Binance clearly informed clients about methods to evade monitoring of activity using VPNs and ignored regulatory requirements. Behnam added that it was evident that control over the company originated from CEO Changpeng Zhao, and there are \u201cclear documents\u201d about the intent to circumvent the law.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTherefore, we intend to vigorously continue and fight this case in court,\u201d the regulator chief said.<\/p>\n<\/blockquote>\n<p>On March 27, the CFTC <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">filed suit<\/a> against Binance and Zhao, accusing unregistered trading of derivatives, providing services to U.S. citizens and sanctioned individuals, and failing to comply with anti-money-laundering rules.<\/p>\n<p>The regulator sought penalties, injunctions, including a ban on conducting business in the country. Cinneamhain Ventures partner Adam Cochran called the lawsuit an attempt to deal a fatal blow to Binance and did not rule out that authorities \u201chave a good chance of success.\u201d<\/p>\n<p>In response to the allegations Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-calls-cftc-lawsuit-unexpected-and-disappointing\">stated<\/a> that the regulator&#8217;s claims contain \u201can incomplete account of the facts,\u201d and his company does not agree with the characterization of many points.\u00a0<\/p>\n<p>Earlier, after the regulator&#8217;s suit, Binance&#8217;s BTC balances <a href=\"https:\/\/u1f987.com\/en\/news\/binance-bitcoin-balances-slump-by-3611-btc-after-cftc-lawsuit\">fell by 3,611 BTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance&#8217;s actions are a clear case of evading the law, and U.S. authorities should have intervened aggressively and as quickly as possible. This was stated by Rostin Behnam of the CFTC on CNBC.<\/p>\n","protected":false},"author":1,"featured_media":76345,"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],"class_list":["post-76344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-cftc"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76344","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=76344"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76344\/revisions"}],"predecessor-version":[{"id":76346,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76344\/revisions\/76346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76345"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}