Binance, the world's largest cryptocurrency exchange, was charged on Wednesday by U.S. commodities regulators who allege the company violated regulations and showed American customers how to evade compliance controls.
The Commodity Futures Trading Commission filed a civil complaint in federal court in the Northern District of Illinois, charging Binance and its founder Changpeng Zhao with violating the Commodity Exchange Act and CFTC rules, which regulate the crypto derivatives such as futures. Samuel Lim, the firm's former chief compliance officer, was also charged.