Image: Nick Barclay / The Verge
Changpeng Zhao, along with his Binance cryptocurrency empire, is getting sued by the Commodity Futures Trading Commission (CFTC) for allegedly violating US trading and derivatives laws. In a complaint filed on Monday, the CTFC accuses Binance of having an “ineffective compliance program” and claims it “knowingly” broke the law.
In addition to suing Zhao, the CTFC also charges Samuel Lim, Binance’s former chief of compliance, for allegedly “aiding and abetting Binance’s violations through intentional conduct that undermined Binance’s compliance program.” According to the CTFC’s complaint, the agency claims Zhao, Lim, and other executives “failed to properly supervise Binance’s activities” and “actively facilitated violations of U.S. law”…
