The hammer finally fell.
While pressure from US regulators on the cryptocurrency sector has increased significantly since the FTX scandal, the US financial derivatives regulatory authority (Commodity Futures and Trading Commission) has filed a complaint against the giant Binance for violation of the regulations.
The lawsuit, filed in federal court in Illinois, targets the company, its founder and CEO Changpeng Zhao, and its former chief compliance officer Samuel Lim.
According to the regulator, Binance voluntarily circumvented US regulations.
The CFTC demands that the platform be prohibited from registering and selling certain financial products in the United States.
The price of Binance Coin, the platform's cryptoasset, fell 3.8% when the lawsuits were announced.
(more information to follow)
