Binance Asks Court to Dismiss CFTC’s Crypto Lawsuit
- Largest crypto exchange disputes the CFTC’s jurisdiction
- Zhao’s lawyers say he can’t be sued as he lives in the UAE
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Binance Holdings Ltd., operator of the world’s largest crypto exchange, and its co-founder Changpeng Zhao asked a US federal judge to dismiss a lawsuit filed by the Commodity Futures Trading Commission.
Attorneys for Binance and Zhao — also known as CZ — submitted the motion on Thursday, arguing the regulator is overreaching and using theories relying on inconsistencies while also making unsound claims and irrelevant allegations.