After the United States Commodity Futures Trading Commission (CFTC) sued the world’s largest cryptocurrency trading platform Binance, its co-founder and CEO Changpeng Zhao, and its former chief compliance officer Samuel Lim, for allegedly breaking trading rules, the crypto exchange chief did not stay silent to the accusations.
Indeed, the CFTC has accused the Binance team of running an “illegal digital asset derivatives exchange” with an “ineffective compliance program,” as well as “willful evasion” of U.S. law “while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit,” to which CZ shared his response on March 27.
