The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Binance, one of the world's largest cryptocurrency exchanges, and its CEO, Changpeng Zhao (CZ), over alleged regulatory violations. The CFTC alleges that Binance facilitated trading of derivatives without registering with the agency, which is a violation of federal law.

The lawsuit is part of a wider effort by U.S. regulators to clamp down on illicit or non-compliant activities in the cryptocurrency industry. The CFTC has been particularly active in this area, and has taken action against numerous companies and individuals in the crypto industry over the past year.

Binance has faced regulatory challenges in other countries as well, including in the UK and Japan. These challenges have led to increased scrutiny of the platform's operations and have raised concerns about the level of regulatory compliance within the cryptocurrency industry more broadly.

(By Pratik Bhuyan)