Ex-Binance US CEO Catherine Coley has hired an attorney to advise her in the Commodities Futures Trading Commission’s lawsuit against Binance, an anonymous source told Reuters.

Coley is said to have hired Sullivan & Cromwell partner James McDonald, a former director of enforcement at the CFTC until 2020. Sullivan & Cromwell did not immediately respond to a request for comment from Decrypt on Thursday.

The CFTC filed its lawsuit against Binance on Monday, a move that the crypto exchange called “unexpected and disappointing.”

The lawsuit alleges that Binance committed multiple trading derivatives violations, including not being properly registered to offer derivatives to U.S. clients, not adequately supervising activity on its exchange, insufficient anti-money laundering (AML) and know-your-customer (KYC) controls, knowingly evading or helping U.S. clients evade regulators, and perhaps most damning: trading against its own customers.

Binance has said for years that Binance US, an affiliate launched by Binance and BAM Trading in 2019, was set up as a separate company for U.S.-based customers. And Coley, who was CEO at Binance US until April 2021, was very visible in the space. In fact, she appeared on Bloomberg to applaud Coinbase going public just a few days before it was announced she would be replaced by Br

Go to Source to See Full Article
Author: Stacy Elliott

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