NewsletterBreaking: CFTC Official Hints At Settlement In Binance Lawsuit; What’s More?
Crypto News: In what could perhaps be the first sign of a slightly easing crypto market environment, a Commodity Futures Trading Commission (CFTC) official on Tuesday hinted at taking the Binance lawsuit towards a logical conclusion. Earlier in March 2023, crypto exchange Binance and its CEO Changpeng “CZ” Zhao, have been sued by the CFTC over regulatory violation. The lawsuit was registered for allegedly breaking trading and derivatives rules in the United States. This meant one of the biggest enforcement actions against a crypto market business considering Binance is by far the largest crypto exchange.
Also Read: Another Massive Terra Classic Burn Ahead Binance Burn, Will LUNC Price Recover?
Meanwhile, US based exchange Coinbase filed a fresh lawsuit against the U.S. Securities and Exchange Commission (SEC) to push the agency to react to a petition it filed last year. The exchange’s rulemaking petition demanded that the SEC write regulations explaining how securities laws are applicable to digital assets.
CFTC Binance Lawsuit Settlement
Kristin Johnson, CFTC commissioner, revealed that the agency has been in talks with Binance over its operations. Adding that there was hope to find a path forward in the lawsuit, the commissioner said to CNBC whether it should be taken to courts or go for a settlement is yet to be decided. The lawsuit alleged that the exchange violated regulations pertaining to trading and derivatives
“We have been in continuing conversations with the business (Binance) to describe what we understand is potentially problematic conduct and to give them an opportunity to explain that conduct and to help us find a path forward.”
It may be recalled, however, that CZ rejected the CFTC’s claims about violating the law. Hence, it would be interesting to see how a common ground would be reached between the two parties.
Also Read: Prosecutors: Terra’s Do Kwon Still Have Bitcoin In Swiss Bank, Indicts Daniel Shin
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP to Benefit Most From End of Government Shutdown, Here’s Why
- Breaking: Coinbase Launches Token Sales Platform for Retail Investors
- Crypto Traders Bet on Government Shutdown Ending by November 14 as Senate Advances Funding Bill
- Breaking: Michael Saylor’s Strategy Buys 487 Bitcoin as Crypto Market Rebounds
- Trump Urged to Offer $2,000 Stimulus in Stablecoins, Firm Says It Could Ignite Bull Run
- What to Expect from Dogecoin, Shiba Inu, Bitfrac and Cardano Prices Now?
- After a 7% Pump, Will FUNToken Continue to Keep the Momentum?
- Ripple Price Prediction as XRP Shows Early Signs of Recovery-Rally Ahead?
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
