Binance Holdings Ltd., the world’s largest cryptocurrency exchange, and Chief Executive Officer Changpeng Zhao, were sued by the US Commodity Futures Trading Commission for allegedly breaking trading and derivatives rules.

The CFTC filed the lawsuit Monday in federal court in Chicago.

The suit claims Binance enabled trading by US residents in products the agency regulates, without registering with the CFTC. It also said the exchange failed to implement adequate anti-money laundering procedures.

The lawsuit seeks to bar Binance and its affiliates from trading certain digital assets, and asks the court to impose trading and monetary penalties.

Binance, which is based in the Cayman Islands, has been under scrutiny by regulators around the world. The company faces allegations of money laundering, operating without a license, and tax evasion. Its executives have denied wrongdoing.

The company stopped offering futures and derivatives trading to US customers last year, citing regulatory uncertainty. But the CFTC alleges that the company continued to allow US users to access its platform through subsidiaries and affiliates.