CFTC Commissioner Kristin Johnson said: “We’ve been in continuing conversations with [Binance] to … give them an opportunity to explain that conduct and to help us find a path forward.”

The CFTC initially filed charges against Binance on March 27, when it accused Binance of soliciting U.S. users to illegally trade derivatives. 

Johnson said that she does not want to prejudge the course of litigation but noted that the CFTC typically has conversations with companies before launching litigating. She also said that the regulatory agency has specifically been in conversation with Binance over its “potentially problematic” actions but that those discussions have not been successful.

Johnson added that the two parties have not decided to settle the case or go to court and said that “there is not an immediate path forward” at present.