Is Binance investigated by CFTC for trading activities?

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2021-03-23 23:30:52

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Crypto exchange Binance is believed to be under investigation by the U.S. Commodity Futures Trading Commission (CFTC) over concerns surrounding whether the exchange will allow U.S. investors to use the platform. or not.

As reported by Bloomberg today, citing anonymous sources, the CFTC is looking to determine if Binance allows people in the United States to buy and sell cryptocurrency derivatives while not being registered under government agency supervision or not.

Price BNBThe exchange’s token, fell more than 7% as soon as the news came out.

Binance hasn’t made any comments yet on this news. But Binance’s co-founder and CEO Changpeng Zhao denied the news on Twitter by saying it was all FUD.

The news comes just a day after Binance announced that it had hired Max Baucus, who served decades in the US Senate and then as ambassador to China, to help the company navigate the scene. legal of the United States of America.

Binance said Baucus will provide the exchange with policy and operational guidance and will act as a liaison between Binance and regulators.

From 2014 to 2017, Baucus was also the ambassador of former President Barack Obama to China.

This is not the first time the CFTC “noticed” a large cryptocurrency exchange.

In July 2019, the regulator launched an investigation against BitMex on similar issues, whether the exchange will allow U.S. investors to trade derivatives on the platform. is not.

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