Binance Holdings, which is the world’s largest cryptocurrency exchange, along with CEO Changpeng Zhao, were sued by the US CFTC for breaking trading and derivatives rules, according to a Bloomberg report.
I don’t think crypto investors realize how devastating US regulators can be and it’s increasingly clear that they don’t want crypto trading to flourish. They did the same thing with retail FX 10 years ago and it was scorched earth.
The lawsuit is in regards to not registering with the CFTC
