Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), recently addressed Binance’s allegations, claiming that the exchange’s leaders cryptocurrency It operates outside of US laws regulating futures and commodities.
The talk was held at the DeCenter Spring Conference at Princeton University on April 14, according to Bloomberg News. reportThat Behnam told attendees that Binance’s leadership had deliberately violated the rules relating to the operation. Including allowing US citizens. Participate in exchanges through the use of VPN networks and other tools.
“They are forming large companies and offering futures contracts and derivatives to US clients,” the CFTC chief added. “If you are going to offer futures contracts in the United States. You must register with the CFTC and obey the law.”
The comments stem from the CFTC’s lawsuit against Binance and its CEO Changpeng “CZ” Zhao for alleged trading violations. Binance, on its part, continues to affirm its involvement in good faith efforts to comply with global regulations.
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