Binance to Seek Dismissal of CFTC Lawsuit
In March, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance, its founder Changpeng Zhao, and compliance officer Samuel Lim, alleging that the exchange operated a derivatives trading operation in the U.S. Now, Binance intends to ask the court to dismiss the lawsuit, according to a recent filing.
Key Points:
- The CFTC sued Binance, its founder, and compliance officer, alleging that the exchange operated a derivatives trading operation in the U.S.
- Binance was also sued by the SEC, which sought a temporary restraining order on funds deposited at Binance.US.
- Ripple’s partial win against the SEC may have impacted attitudes toward the U.S. regulatory environment.
- Binance’s response to the CFTC’s complaint is due on July 27, with the exchange requesting to exceed the standard 15-page limit due to the complexity of the case.
- Compliance officer Samuel Lim also intends to file a separate Motion to Dismiss.
The outcome of Binance’s request to dismiss the CFTC’s lawsuit will be closely watched by the crypto community. If successful, it could set a precedent for other exchanges facing similar regulatory challenges. However, if the lawsuit proceeds, it may have significant implications for Binance’s operations in the U.S. market.
By
By
By
By
By