CFTC Sues Binance and CEO Over Alleged Regulatory Violations, Sending Bitcoin Price Down
Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao are facing a lawsuit filed by the Commodity Futures Trading Commission (CFTC) over alleged regulatory violations.
Binance and Founder Changpeng Zhao Sued by CFTC for Allegedly Violating Trading Rules
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.
Cointime News Wrapup-Afternoon Version: Tron’s Justin Sun Slams the US SEC After Lawsuit
Tron's Justin Sun said that the SEC's charges against him lacks merit and the SEC should work on getting clear regulatory guidelines.
CFTC’s Tech Committee Gathered in DC to Talk DeFi, Here’s What Was Discussed
The United States commodities regulator has gotten a crash course on decentralized finance (DeFi) today, with crypto executives briefing the regulator on key issues affecting the space, including exploits, decentralization and digital identities. As part of a scheduled first meeting of the CFTC’s Technology Advisory Committee (TAC) in Washington D.C., members from the crypto space gave presentations to the regular with the aim of covering key issues currently impacting DeFi. CFTC commissioner Christy Goldsmith Romero opened the meeting with prepared remarks, saying “understanding how DeFi works” is “important” as “policy decisions related to DeFi” are currently being made by regulators and lawmakers. (Cointelegraph)
SBF Shilled FTX Risk Model to FDIC Chairman Gruenberg Prior Collapse
Before crypto exchange FTX and its founder Sam Bankman-Fried (SBF) got tied down around allegations of misappropriation of users’ funds, SBF was among the most influential crypto entrepreneurs. Long before FTX collapsed, an allegedly leaked email exchange with a top regulator shows SBF’s intent to get the exchange federally regulated.
CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm
The Technology Advisory Committee will be joined by executives from IBM, Amazon, CME Group, and Cboe Global Markets. Professors from university law schools, including Cornell, Washington College of Law, and the University of Michigan, have also been named in the list.
CFTC Chair Calls Ethereum a Commodity, in Contrast to SEC Chair Gensler’s Position
Chairman of the Commodities and Futures Trading Commission (CFTC) Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler who has consistently argued that every cryptocurrency other than Bitcoin falls under securities laws.
Stablecoins and Ether are ‘Going to be Commodities,’ Reaffirms CFTC Chair
Stablecoins and Ether are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing. At the Mar. 8 Senate Agricultural hearing, CFTC chair, Rostin Behnam, was asked by Senator Kirsten Gillibrand about the differing views held by the regulator and the Securities and Exchange Commission (SEC) following the CFTC’s 2021 settlement with stablecoin issuer Tether, Behnam said: “Notwithstanding a regulatory framework around stablecoins, they’re going to be commodities in my view.” (Cointelegraph)
CFTC Chair Says Ethereum and Stablecoins Are Commodities
Gary Gensler contended last month that anything other than Bitcoin is subject to securities regulations.
CFTC Chair Rostin Benham Deems Ethereum, Stablecoins to Be Commodities
During a hearing before the Senate Agriculture Committee, Benham said:
