Bitcoin $95,584.79 -0.29%
Ethereum $3,598.64 -0.60%
BNB $698.50 +9.03%
Optimism $2.52 +2.25%
Arbitrum $1.03 +2.25%
Solana $229.88 +2.64%
Polygon $0.70 +9.64%
Cosmos $9.38 +1.35%
Avalanche $50.46 +4.12%

Bitcoin $95,584.79 -0.29%
Ethereum $3,598.64 -0.60%
BNB $698.50 +9.03%
Optimism $2.52 +2.25%
Arbitrum $1.03 +2.25%
Solana $229.88 +2.64%
Polygon $0.70 +9.64%
Cosmos $9.38 +1.35%
Avalanche $50.46 +4.12%

CFTC Could Force Binance to Cease U.S. Operations as Part of Settlement: Bernstein

The US Commodity Futures Trading Commission (CFTC) may require Binance to cease operations in the US as part of a potential settlement, according to a research report by Bernstein. The CFTC sued the crypto exchange and its founder Changpeng Zhao earlier this week for allowing US citizens to trade derivatives and for willful evasion of the country's laws. Binance.US makes up less than 5% of the exchange's global operations, and Bernstein expects that Binance will look to "safeguard its dominant international business" in Europe, Africa, and Australia. Bernstein doesn't expect this news to trigger a large selloff in the market, as the "regulatory narrative" has shifted from the US to expected Hong Kong and China flows.

(By Will Canny)

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