Regulation
US Derivatives Regulator Says Binance Intentionally Flouted Rules
- CFTC’s Behnam says the exchange intentionally shirked rules
- Agency chairman speaks about crypto at conference on Thursday
Photographer: Gabby Jones/Bloomberg
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The head of Commodity Futures Trading Commission admonished Binance Holdings Ltd over its compliance with US rules after the derivatives regulator sued the crypto exchange and its chief executive last month for a litany of alleged violations.
“These are not unsophisticated individuals,” CFTC Chairman Rostin Behnam said Thursday at an event hosted by Princeton University. “They are starting large companies and offering futures contracts and derivatives to US customers.”