BINANCE BEING INVESTIGATED BY CFTC Inbox Ron Edge 10:29 AM (35 minutes ago) to bcc: jmanley, bcc: PIERCE, bcc: me ******TO FILE A COMPLAINT AGAINST BINANCE, CALL THE CFTC IN D.C. @ 202-418-5356, JOAN MANLEY SHARE WITH OTHER CRYPTO HOLDERS NEWS BLOG EVENTS TRADING ANALYSIS CONTACT ABOUT CATEGORIES Crypto 101 Crypto Tech Fun Facts News Uncategorized NEWS Binance Under Investigation Over US Trades MAR 15, 2021 The world’s largest cryptocurrency exchange, Binance, has recently undergone a thorough investigation by the United States Commodity Futures Trading Commission (CFTC) over speculations of allowing unlawful US traders to execute certain transactions. According to a report from Bloomberg, in which they listed a single anonymous source, Binance Holdings Ltd is being investigated by the CFTC concerning possible derivatives trades made by American customers. Although Binance is yet to get tangled in legal troubles, the commission is searching deeply for any hints of US traders purchasing digital assets through the platform and re-selling them on US platforms, which is a problem since US crypto traders must meet certain criteria as well as report and pay tax money on these holdings, but when routed through Binance all these regulations are thrown in the trash since Binance International operates under international regulations. A Binance spokesperson said, “We do not comment, as a matter of policy, on communications with any regulators. What we can say is that we take a collaborative approach in working with regulators around the world and we take our compliance obligations very seriously.” Finally, Binance’s CEO came out stating that the article is likely an attempt from “competition” to tarnish the exchange’s name, and assured everyone that an investigation doesn’t necessarily mean trouble, and could be a routine check-up instead. What do you think? Is Binance hiding something? Or is it truly clear of any shady activities? Greg Thomson “Binance reportedly under CFTC investigation over US-based trading activity” 15 March 2021 Post navigation Ethereum Miners Might Rally But Buterin Can Stop Them China Prioritizes Blockchain For The Next Five Years By cryptohision11