Global crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the US Commodity Futures Trading Commission (CFTC) on 27 March for operating what the regulator alleged were an "illegal" exchange and a "sham" compliance programme. The CFTC sued Binance, Zhao and its former top compliance executive with "willful evasion" of US law, "while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." The CFTC said that from at least July 2019 to the present, Binance "offered and executed commodity derivatives transactions on behalf of US perso...
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