{"id":19202,"date":"2023-03-28T05:22:40","date_gmt":"2023-03-28T05:22:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-and-changpeng-zhao-face-cftc-lawsuit\/"},"modified":"2023-03-28T05:22:40","modified_gmt":"2023-03-28T05:22:40","slug":"binance-and-changpeng-zhao-face-cftc-lawsuit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-and-changpeng-zhao-face-cftc-lawsuit\/","title":{"rendered":"Binance and Changpeng Zhao Face CFTC Lawsuit"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against crypto exchange Binance and its founder Changpeng Zhao for allegedly offering unregistered crypto derivatives products in the U.S. The CFTC accuses Binance of violating several laws, including not implementing know-your-customer or anti-money laundering processes, and having a weak anti-evasion program.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 100% + 100 Free Spins!<\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 100% bonus on your first deposit up to 5 BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The announcement affected the crypto market, with bitcoin\u2019s price falling around 3% and Binance\u2019s BNB token dropping 6%. The CFTC claims that Binance created a system to conceal its true operations, with Zhao being solely in control. The suit also alleges that Binance advised U.S. customers to use virtual private networks (VPNs) to bypass restrictions.<\/p>\n<p>A Binance spokesperson expressed disappointment with the CFTC complaint, stating that the company has invested significantly in compliance measures and intends to continue collaborating with regulators globally. Binance now blocks U.S. residents, citizens, cell phone providers, IP addresses, and bank accounts from accessing its platform.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>100% up to 5BTC + 100 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 100% bonus on your first deposit up to 5BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/binance-and-changpeng-zhao-face-cftc-lawsuit-over-unregistered-crypto-offerings\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against crypto exchange Binance and its founder Changpeng Zhao for allegedly offering unregistered crypto derivatives products in the U.S. The CFTC accuses Binance of violating several laws, including not implementing know-your-customer or anti-money laundering processes, and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19202"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19202"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13125"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}