Bloomberg: CFTC Opens Binance Investigation

The Futures Trading Commission (CFTC) is studying the work of Binance for possible admission for US residents to trade crypto derivatives without an appropriate license. Bloomberg writes about this with reference to informed sources.

The cryptocurrency exchange’s native token loses almost 10% of its value on news, according to CoinGecko . The price of the first cryptocurrency dropped by 2.5% within 30 minutes, testing the $ 55,000 mark.

 “The bull market is not complete without FUD. Never mind, stay active in the industry , ”reacted Changpeng Zhao, CEO of Binance.

It’s not a bull market without some FUD.

Ignore FUD, keep BUIDLing.

– CZ Binance (@cz_binance) March 12, 2021

” We are working with regulators around the world and is very serious about the commitments to comply with regulatory requirements “ , – said representatives of publishing platforms. 

The CFTC declined to comment.

On the eve it became known about the  invitation of Binance ex-Senator Max Bockus as an adviser on regulatory and legal issues. He was tasked with liaising between the company, US regulators and authorities .

In October 2020, Forbes published an article about Binance’s development of a strategy to deliberately deceive regulators and extract hidden profits from US customers.

“The statements and accusations in the article are incorrect. Binance has always acted within the law. This is evidenced by the numerous regulated exchanges open in many jurisdictions, ” Zhao wrote at the time.

The company filed a libel suit against the publication in November , but withdrew it in February .

Also in November, Binance required US customers to leave the platform within 14 days. Prior to that, for trading on the platform, American clients could indicate during registration that they were not residents of this country.

Hodlmonks previously reported that companies associated with the Binance exchange are listed in both the Caymans and the Seychelles.

As a reminder, in October 2020, the CFTC filed a lawsuit against BitMEX and its owners. Additionally, the Justice Department charged Hayes, Cause, Dwyer, and platform CTO Samuel Reed with bank secrecy violations.

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