- BitBoy Crypto believes the CFTC lawsuit towards Binance is extra of a shot on the SEC than Binance.
- Eleanor Terrett says her sources point out the SEC will file an identical lawsuit towards Binance in response to the CFTC lawsuit.
- March 27 The CFTC filed a lawsuit towards Binance, alleging that it traded on its change utilizing 300 accounts linked to Binance CEO CZ.
Ben “BitBoy Crypto” Armstrong tweeted his ideas on the Commodity Futures Buying and selling Fee (CFTC) lawsuit towards Binance. Armstrong believes that the CFTC’s lawsuit is extra of a slight towards the US Securities and Trade Fee (SEC) than towards Binance.
In an earlier tweet, Armstrong shared a screenshot of particulars concerning the CFTC lawsuit. The screenshot confirmed that the CFTC considers bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD) as commodities.
Notably, that is opposite to the SEC’s place on the matter. Cryptocurrencies and digital property are thought-about securities by the SEC. Extra particularly, the SEC is in an ongoing authorized battle with Ripple over allegations that the blockchain developer and XRP token developer offered them as unregistered securities to buyers.
Fox Enterprise reporter Eleanor Terrett additionally tweeted information of the CFTC lawsuit towards Binance. In accordance with Terrett, sources point out that there’s a chance that the SEC will file an identical lawsuit towards Binance to counter the CFTC’s lawsuit.
March 27 The CFTC filed a lawsuit towards Binance, alleging that the cryptocurrency change traded on its platform utilizing 300 accounts linked to Binance CEO Changpeng Zhao (CZ).
In the course of the related interval, Binance traded on its platform by way of roughly 300 “home accounts”, all instantly or not directly owned by Zhao (…). Zhao additionally traded on the Binance platform by way of two particular person accounts.
Accordingly, Zhao issued an announcement in response to the allegations. Zhao referred to as the civil grievance “surprising and disappointing” after greater than two years of cooperation with the CFTC. In his response, Zhao outlined just a few key factors, noting {that a} complete response can be supplied sooner or later.
