Binance and CEO Zhao Plan to Seek Dismissal of CFTC Complaint

Binance and Changpeng Zhao filed a license application with the U.S. District Court for the Northern District of Illinois, planning to file a legal memorandum to initiate a motion to dismiss the lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC).

In March of this year, Binance and Changpeng Zhao were sued by the US CFTC in Chicago Federal Court for allegedly violating trading and derivatives rules. The CFTC stated that Binance did not register properly and thus evaded certain obligations.

Binance Changpeng Zhao CFTC

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