Binance deliberately violated the rules established by the US Commodity Futures Trading Commission (CFTC). This was stated by the head of the department Rostin Benam, writes Bloomberg.
The official noted that there is a clear understanding of the need for registration with the Commission and compliance with laws if such products are launched in the United States.
Benham also announced the recognition of Ethereum and stablecoins as commodities, while the SEC treats them as securities.
Earlier, the head of the CFTC called Binance’s actions against US customers a “scam”.
On March 27, the Commission filed a lawsuit against the bitcoin exchange and its CEO, Changpeng Zhao, alleging unregistered derivatives trading, providing services to US citizens and individuals 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.
In response to the accusations, Zhao said the CFTC’s claims contain “an incomplete statement of the facts” and his company disagrees with the characterization of many of the claims.
He went on to denounce “enforced crypto regulation” by regulators.
Source: CryptoNewsHerald.com
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