Binance sent a petition regarding the rejection of the regulator's claim

The Binance crypto exchange, together with its founder Changpeng Zhao, sent a petition to the court regarding the rejection of the complaint sent by the CFTC regulator to the Federal Security Service of Chicago.

Proceedings between Binance and the CFTC: what is known?

At the end of March, the CFTC charged the crypto exchange with violating the rules established for trading derivatives. The site was also accused of not having the necessary license. According to the department, the cryptocurrency exchange knew that it accepted persons under sanctions as clients.

The statement indicates that the ex-director, who was responsible for the implementation of the regulatory rules of Binance, Samuel Lim, also wants to send a petition regarding the rejection of the claim.

At the moment, the cryptocurrency platform, the founder and the former director are obliged to respond to the complaint of the regulator by the day after tomorrow. They put forward a demand to increase the number of sheets in the memoranda. This was explained by the fact that the claims are complex, and there are many arguments. They are going to use them to support petitions regarding the rejection of the regulator.

The department reported that the exchange deliberately violated the requirements. The founder responded by saying that the regulator does not fully state the facts. At the same time, the exchange does not agree with the characteristics of most items.

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