The world's biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator alleged were an 'illegal' exchange and a 'sham' compliance programme.
Binance's cryptocurrency BNB, the world's fourth largest by market size, dropped around 4% on the news.
In a tweet on Monday afternoon, he wrote "4" - a reference to a previous post listing his "Do's and Don'ts" for 2023. The fourth item on the list was "Ignore FUD, fake news, attacks," using an acronym for "fear, uncertainty and doubt" often used in crypto in relation to news perceived as negative.Founded in Shanghai in 2017, Binance sits at the heart of the global crypto industry. Its core Binance.
Binance did not require customers to submit information verifying their identity before trading and "failed to implement basic compliance procedures designed to prevent and detect terrorist financing and money laundering," the CFTC said. Zhao kept information reflecting Binance's U.S. customer base secret from some senior managers, CFTC said. In October 2020, Zhao directed Binance personnel to replace the U.S. value for some data fields in Binance’s internal database with "UNKWN", it said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Crypto Exchange Binance and CEO Changpeng Zhao Sued by CFTC Over Regulatory ViolationsJUST IN: The CFTC has filed suit against leading crypto exchange binance and its CEO cz_binance. The price of bitcoin is plunging on the news. oknightcrypto reports
Lire la suite »
Binance and founder Changpeng Zhao sued by CFTC for allegedly violating trading rules
Lire la suite »
Feds sue crypto giant Binance and founder Changpeng ZhaoThe lawsuit claims Binance helped US traders use its platform.
Lire la suite »
Binance Build — Mar 24, 2023 | Binance BlogOur fourth BinanceBuild blog just dropped! Catch up on everything we've been up to for the past two weeks including: 🔸 The 2023 Ramadan Events Calendar 🔸 Trading tags 🔸 Increased trading data There's more ⤵️
Lire la suite »
Binance Opens a Regional Hub in Georgia | Binance BlogBinance opens a new regional hub in Georgia 🇬🇪 Through this brand-new Web3 outpost, we aim to boost talent acquisition, promote blockchain education, and accelerate crypto adoption in the region. More details here ⤵️
Lire la suite »
US regulators sue crypto megaplatform Binance and its CEO | CNN BusinessFederal regulators sued Binance, the world's largest crypto trading platform, and its CEO for allegedly violating trading rules.
Lire la suite »