Binance, the world’s largest crypto exchange, and its CEO, Changpeng “CZ” Zhao, have officially requested the dismissal of a lawsuit brought by the United States Commodity Futures Trading Commission (CFTC).

The motion, submitted on July 27, accuses the CFTC of overstepping its regulatory boundaries and engaging in regulatory overreach.

The CFTC initiated the lawsuit against Binance in March, alleging that the company offered unregistered derivatives products in the U.S., including cryptocurrency trading services, futures, and options products.

The regulator also accused Binance of inadequate supervision, a lack of a robust KYC or AML program, and failing to register as a futures commissions merchant, designated contract market, or swap execution facility.

In the filing’s introduction, Binance’s lawyers state that “it is a bedrock principle of our legal order that, as a general rule, ‘United States law governs domestically but does not rule the world,’” citing the case Microsoft

Go to Source to See Full Article
Author: Mattis Meichler

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details