The Washington PostThe Washington Post

U.S. targets world's biggest crypto market with charges against Binance

By Julian Mark

27 Mar 2023 · 3 min read

Editor's Note

The U.S. Commodities Futures Trading Commisison has charged Binance on the allegations of regulatory violations and informing American customers on evading compliance controls. The WaPo reports.

Binance, the world's largest cryptocurrency exchange, was charged on Wednesday by U.S. commodities regulators who allege the company violated regulations and showed American customers how to evade compliance controls.

The Commodity Futures Trading Commission filed a civil complaint in federal court in the Northern District of Illinois, charging Binance and its founder Changpeng Zhao with violating the Commodity Exchange Act and CFTC rules, which regulate the crypto derivatives such as futures. Samuel Lim, the firm's former chief compliance officer, was also charged.

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