Ex-Binance CCO accused of aiding and abetting CFTC rule violations
By 
Aaron Nicodemus2023-03-27T21:26:00
The Commodity Futures Trading Commission (CFTC) charged Binance and its founder with operating an illegal digital assets exchange.
The agency’s announcement Monday also included charges against former Binance Chief Compliance Officer Samuel Lim for aiding and abetting the exchange’s alleged violations of the Commodity Exchange Act (CEA) and CFTC regulations. Entities Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited were each named in the complaint, along with founder Changpeng Zhao.
The complaint, filed in U.S. District Court for the Northern District of Illinois, cited a number of violations at Binance, including:
Related articles
-
News BriefBinance pleads guilty, fined $4.3B over widespread U.S. law violations
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
-
News BriefSEC charges Binance, founder in latest crypto crackdown
The Securities and Exchange Commission charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations, including operating unregistered exchanges.
-
OpinionMessaging history damning in CFTC case against ex-Binance CCO
A cryptocurrency firm with a chief compliance officer found to not be handling the responsibilities of their role seriously is likely to face additional regulatory scrutiny, as evidenced by the Commodity Futures Trading Commission’s action against Binance.
More from Regulatory Enforcement
-
News BriefDOJ clears $4.4 Billion T‑Mobile acquisition of UScellular
The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
-
News BriefFlorida alleges that Robinhood Crypto’s fee disclosures are inaccurate
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
-
News BriefCVS hit with nearly $1 billion fine in Omnicare false claims verdict
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.