As of late, the Commodity Futures Trading Commission (CFTC) has adopted a resolute position against Binance, which is the biggest cryptocurrency exchange in the world. As the former Chief Executive Officer of Binance, Changpeng Zhao (CZ) has resigned from his position after entering a guilty plea to charges that include violating anti-money laundering laws in the United States. Binance has agreed to pay penalties totaling more than $4.3 billion as part of a deal with the authorities in the United States. Among them is the personal contribution of fifty million dollars made by Zhao. This case exemplifies the dedication of the Commodity Futures Trading Commission (CFTC) to enforce trading restrictions in the United States, especially against firms that let consumers in the United States to trade unregistered bitcoin derivatives.
The Statement Released by Commissioner Caroline D. Pham
A statement was issued by CFTC Commissioner…
