The CFTC Sues Binance, but Is It Regulatory Turf War?
The Breakdown
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The CFTC Drops a Suspension Against Binance
The CFTC is alleging seven counts of breaching the rules around offering derivatives products in the US. The lawsuit quotes internal Binance documents as instructing customer service personnel to, quote, inform the user that his slash her IP address is detected as a US IP. There were also allegations that B finance allowed customers related to dark web markets to use the exchange and had informed customers to be more careful rather than off boarding them. In February 2020, Lim acknowledged the obviousness of the issue saying like, come on, they're here for crime.
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