Binance Holdings Ltd., the leading global digital currency exchange, along with its CEO Changpeng Zhao, is facing a lawsuit Monday from the U.S. Commodity Futures Trading Commission (CFTC).
The regulatory body accused the company of violating trading and derivatives regulations, Bloomberg reported.
The legal action was initiated on Monday in a federal court located in Chicago.
Binance (CRYPTO: BUSD) CEO Changpeng Zhao, popularly known as “CZ” in the cryptocurrency community, had recently raised concerns over the recent shutdown of cryptocurrency friendly banks, stating that it feels like there is a coordinated effort by the U.S. government to shut down such banks.
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In a tweet, CZ said the recent downfall of two of the most prominent cryptocurrency-friendly banks, Silvergate SI
Silvergate Capital Corp (NYSE:SI) and Silicon Valley Bank, and speculated that the U.S. government might be behind their shutdown.
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