The actions of the cryptocurrency exchange Binance are a clear case of evasion of the law, and the US authorities should have “intervened aggressively and as quickly as possible.” About it declared chapter CFTC Rostyn Benham on CNBC.
According to him, Binance clearly informed customers about methods to evade activity monitoring using VPNs and ignored regulatory requirements. Benham added that it was clear that control of the company came from CEO Changpeng Zhao, and there are “clear documents” of intent to circumvent the law.
On March 27, the CFTC filed a lawsuit against Binance and Zhao alleging unregistered derivatives trading, providing services to US citizens and those under sanctions, and failing to comply with anti-money laundering regulations.
The regulator demanded the imposition of fines, injunctions, including on doing business in the country. Adam Cochran, a partner at Cinneamhain Ventures, called the lawsuit an attempt to deliver a fatal blow to Binance and did not rule out that the authorities “have a good chance of success.”
In response to the allegations, Zhao said the regulator’s claims contain “an incomplete statement of the facts” and his company disagrees with the characterization of many of the items.
Source: Cryptocurrency
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