What will be the consequences of the lawsuit against Binance?
Join Our Telegram channel to stay up to date on breaking news coverage As we have reported recently, the Commodity Futures Trading Commission, or CFTC, of the US has filed a lawsuit against Binance, the largest cryptocurrency exchange in the world, leaving it in a very unclear situation. It’s the most recent illustration of the greater federal scrutiny the sector has been subject to as a result of a spate of scandals in recent years. These recent actions of the US government against the crypto sector have been nicknamed “Operation Choke Point 2.0“, to decry what appears to be a systematic effort at attacking the industry. In the case, which was brought on Monday, Binance is accused of deliberately evading US rules, including neglecting to register there and allowing Americans to trade cryptocurrency derivatives, which are not permitted for regular investors. The CFTC complaint also alleges that through 300 “house accounts” directly or indirectly he...