Binance, CZ Sued by US CFTC for Alleged Crypto Trading, Derivatives Violation

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, and CEO Changpeng Zhao were sued by the United States Commodity Futures Trading Commission for allegedly violating derivatives rules.

The CFTC filed the lawsuit Monday in federal court in Chicago. The derivatives regulator said Binance shirked its obligations by not properly registering with it.