Binance, Billionaire Zhao to Seek Dismissal of CFTC Lawsuit
- CFTC has alleged Binance, Zhao broke US derivatives rules
- The defendants’ response to the complaint is due on July 27
Changpeng Zhao
Photographer: Zed Jameson/BloombergThis article is for subscribers only.
Binance Holdings Ltd., its founder Changpeng Zhao and the crypto exchange’s former Chief Compliance Officer Samuel Lim plan to seek the dismissal of a Commodity Futures Trading Commission lawsuit.
The response to the CFTC complaint is due July 27 and the defendants intend to submit motions to dismiss, according to a court filing on Monday. They also sought permission to exceed a 15-page limit on supporting briefs, citing the complexity of the case and the number of arguments they anticipate making.