Binance and founder Changpeng Zhao sued over accusations of trading rules violations


Source: nbcnews.com nbcnews.com

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The Commodity Futures and Trading Commission filed a complaint against crypto exchange Binance, its co-founder, Changpeng Zhao, and its former chief compliance officer, Samuel Lim, alleging that Binance actively solicited U.S. users and subverted the exchanges own “ineffective compliance program,” according to a filing in Illinois federal court Monday. Just days prior to the CFTC filing, CNBC reported on how Binance employees worked to subvert the exchange’s compliance controls in China, using some of the same techniques that the CFTC alleges Binance to attract U.S. users. The filing has the potential to upend the exchange’s operations and is potentially just...