Binance is sued for violating regulations in the United States
The Binance exchange, and its founder Changpeng Zhao, were accused this Monday by the regulatory authorities in financial matters, for alleged violations of United States regulations
The main cryptocurrency exchange platform Binance, as well as its founder Changpeng Zhao, were indicted this Monday by the Commodity Futures Trading Commission, CFTC, for alleged violations of US law regulations.
According to the CFTC, Binance would have evaded obligations by failing to register correctly with the regulatory body.
The CFTC’s investigation into Binance’s actions is joined by the tax agency of the Internal Revenue Service (IRS). This agency was already following the steps of the exchange in order to establish if it has complied with its tax obligations and if it complies with the laws against money laundering.
The CFCT has filed a lawsuit against Binance in a federal court in Chicago that could culminate in heavy monetary penalties as well as a ban on trading in certain sectors.
In parallel, there is speculation about the fact that Binance would have deliberately avoided compliance with regulations to obtain greater benefits.
M.Pino
Source: altonivel
(Reference image source: Sasun Bughdaryan, Unsplash)
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