US derivatives regulator, the CFTC, has charged Binance, the world’s largest cryptocurrency exchange, with illegally operating an unregistered trading platform. Samuel Lim is the only named person in the CFTC case, which runs to 37 pages. The CFTC fined Binance $10m for violating its rules when it permitted US citizens to trade crypto derivatives from at least 2017.
– The Commodity Futures Trading Commission (CFTC) held a meeting on March 27 with representatives from Binance, a cryptocurrency exchange.
– Samuel Lim, a representative from the CFTC, was present at the meeting.
– The meeting discussed issues related to FCMs, VPNs, and VIP accounts.
– The CFTC has been investigating potential violations of regulations by Coinbase and recently issued a Wells notice.
– The SEC has also been investigating Coinbase and issued a “Wells notice” to the cryptocurrency exchange.