.jimcramer calls binance 'a company gone rogue' in response to the CFTC's recent lawsuit against the world's largest cryptocurrency exchange
concerns over the Commodity Futures Trading Commission's recent lawsuit against Binance, the world's largest cryptocurrency exchange.Binance and its CEO, Changpeng Zhao, face allegations of regulatory violations filed by the CFTC in federal court in Chicago on Monday.
The CFTC accuses Binance and Zhao of breaking trading and derivatives rules by soliciting and accepting orders from U.S. customers involving spot and derivative transactions since July 2019 without being registered with the CFTC. The lawsuit raises further questions about the regulatory environment for cryptocurrency exchanges, particularly in the United States, where regulations have been tightening.
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Former CFTC Chair Massad on CFTC Lawsuit Against Binance: It's a 'Big Deal'The CFTC has sued Binance on allegations that the crypto exchange offered unregistered crypto derivatives products and directed U.S. customers to evade compliance controls through the use of VPNs. Bernstein analysts predict the CFTC could require Binance to cease operations in the U.S. as part of a potential settlement. Timothy Massad, Harvard Kennedy School Research Fellow and former CFTC Chair, shares his reaction and the potential implications for the state of U.S. crypto regulation. [reward]679e01c3-4c4c-4baa-8a79-6077e51e5165[/reward]
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Binance Depositors Flee Following CFTC Charges, On-Chain Data ShowsFollowing CFTC charges against Binance, crypto users have withdrawn more than $400 million on Ethereum from Binance in the past 24 hours, while Paxos has burned more than $155 million of BUSD. reports
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CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classificationThe U.S. Commodity Futures Trading Commission suit against cryptocurrency exchange Binance claims that the Ether coin is a commodity, but that only applies to its use by Binance.
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Binance and Changpeng Zhao sued by CFTC for alleged trading-rules violationsCFTC sues Binance and cofounder Changpeng Zhao for allegedly violating trading rules
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Binance and founder Changpeng Zhao sued by CFTCBinance and its founder Changpeng Zhao are being sued by the Commodity Futures Trading Commission for numerous alleged violations of the Commodity Exchange Act and CFTC regulations.
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Binance CEO Zhao Calls CFTC Suit an ‘Incomplete Recitation of Facts’In a blog post Monday, Binance CEO Changpeng Zhao wrote that the exchange giant did not agree with 'the characterization of many of the issues alleged' in a lawsuit filed earlier in the day by the CFTC. JPRubin23 reports
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