Binance sued by CFTC over trading and derivative violations

Binance, the world’s largest crypto exchange by volume; its CEO Changpeng Zhao; and Chief Compliance Officer Samuel Lim, are being sued by the U.S. Commodity Futures and Trading Commission, according to a filing on Monday.

The company, Zhao, Lim are being sued for allegedly breaking trading and derivatives rules.

The exchange has never registered with the CFTC in any capacity and has “disregarded federal laws” for U.S. financial markets, including laws that implement controls to prevent and detect money laundering, terrorism financing, among other aspects, the filing states.

Read more: TechCrunch