According to information obtained from recent reports, the digital asset trading platform Binance.US, which is owned by crypto mogul Changpeng “CZ” Zhao and was established in order to cater to clients in the United States, has a sizeable tech personnel based out of Shanghai, China.

According to information obtained from recent reports, the digital asset trading platform Binance.US, which is owned by crypto mogul Changpeng “CZ” Zhao and was established in order to cater to clients in the United States, has a sizeable tech personnel based out of Shanghai, China.

The Commodity Futures Trading Commission sued Binance.US last month, alleging that there were ambiguities between Binance.US and Binance Holdings, the parent company for all Binance subsidiaries and affiliates. The Binance exchange has been accused of running a “intentionally opaque common enterprise” that ought to have been registered with the CFTC a long time ago but wasn’t, according to the agency’s announcement, which also mentions Zhao in its lawsuit and is seeking fines in addition to permanent trading and registration restrictions.

(By Pratik Bhuyan)