US financial regulators have filed a lawsuit against Binance – the operator of the world’s largest trading platform for digital currencies such as Bitcoin and Ether. The crypto exchange did not comply with the rules of the US financial market and operated certain transactions and services without the necessary license, the CFTC said today. “At Binance, they have known for years that they are violating CFTC rules,” said agency chief Rostin Behnam.
The US regulator wants to impose fines and a trade ban. Binance specifically attempted to circumvent CFTC regulations, according to the financial regulator’s lawsuit. This happened, for example, when certain business activities were relocated out of the USA.