The Commodity Futures and Trading Commission (CFTC) has filed a complaint against crypto exchange Binance claiming the platform violated multiple provisions of the Commodity Exchange Act, including laws aimed at stemming money laundering and financing terrorism.
The CFTC also named Binance founder and CEO Changpeng Zhao and Binance former chief compliance officer Samuel Lim in the complaint.
- The CFTC claims Binance actively solicited U.S. users and subverted the exchange’s own “ineffective compliance program.”
- The complaint was filed in Illinois federal court on Monday.
- The CFTC claims Binance’s compliance efforts were a sham and that the company deliberately took steps to violate U.S. laws, placing profits over following the law.
- Binance is the largest crypto exchange in the world.
- In an apparent response to the complaint, Zhao tweeted “4,” referring to an earlier tweet from January with the number 4 stating, “Ignore FUD, fake news, attacks, etc.”
- The price of Bitcoin fell ~3% on Monday following news of the CFTC filing.
