Big Settlement! US Court Approves Settlement Agreement Between CFTC and Binance and Its CEO
Source: BeInCrypto
Compile:Blockchainknight
The U.S. Federal District Court approved the CFTC (U.S. Commodity Futures Trading Commission) andBinance(Binance)The court formally signed a consent order against the Crypto exchangeand its CEO Changpeng Zhao (CZ) have imposed a series of fines and bans.
根据最近的一份声明，法院宣布赵长鹏和币安涉嫌违反《商品交易法》和 CFTC 的规定，导致赵长鹏个人被处以 1.5 亿美元的民事罚款。
Binance was required to refund $1.35 billion in illegal trading fees and pay an additional $1.35 billion in penalties to the CFTC.
The court asked Zhao Changpeng and Binance to provide evidence to prove the effectiveness of the improved compliance controls.The court also stated that a permanent injunction must be entered to prevent further violations..
The decision follows the CFTC's initial announcement of the settlement on November 21.
The CFTC claims that Binance, at the direction of Changpeng Zhao, allegedly solicited U.S. clients, including quantitative trading firms, in violation of its own terms of use.
According to reports, theexchangeAllowing prime brokers to open unregulated “sub-accounts” is a big challenge for U.S. clients.Xiaobai NavigationDirect transactions are facilitated without proper Know Your Customer (KYC) procedures.
The CFTC further claimed that Zhao Changpeng and Binance were aware of U.S. regulatory requirements but “chose to ignore them.”.
The CTFC also accused them of actively concealing the presence of U.S. clients on the platform. In addition, senior executives, including Zhao Changpeng, were accused of facilitating violations of U.S. law by instructing clients to circumvent compliance controls.
The article comes from the Internet:Big Settlement! US Court Approves Settlement Agreement Between CFTC and Binance and Its CEO
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