US regulators are investigating possible insider trading on Binance.US

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US regulators have launched a large-scale investigation into the activities of the American division of the cryptocurrency exchange Binance.

As part of the investigation, which involves representatives of the US Commodity Futures Trading Commission (CFTC), the possibility of insider trading is also being investigated. According to regulators, “Binance.US employees could profit by being in a better position compared to customers.”

In addition to possible insider trading, regulators are investigating possible market manipulation. According to Bloomberg, citing sources familiar with the situation, the CFTC has already contacted “potential witnesses” to establish the details of the case.

Binance representatives stressed that their company’s policy has a “zero tolerance” for insider trading and a “clear code of ethics” to prevent situations in which the interests of customers could be harmed. The exchange’s security team has developed strict rules to investigate misconduct and ensure employee personal accountability.

Perhaps against the backdrop of increasing regulatory pressure in the United States, the rate of the first cryptocurrency fell by 5% over the past day. At the time of publication, Bitcoin is trading at $ 45,500.

Earlier, Binance CEO Changpeng Zhao said that the US division of the exchange is considering an IPO within three years.

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