Key Points
July 27 (Reuters) - Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint filed against the exchange by the U.S. Commodity Futures Trading Commission (FTC), the company said in a court filing on Thursday...
The CFTC sued Binance, Zhao and former Chief Compliance Officer Samuel Lim in March alleging that they violated the Commodity Exchange Act and certain related federal regulations, and for operating what the regulator said was an "illegal" exchange and a "sham" compliance program...
"The CFTC seeks to regulate the overseas activities of foreign corporations and individuals based on conclusory allegations that fail to establish jurisdiction over the defendants, fail to establish that the CFTC can enforce the provisions cited in the complaint extraterritorially, and fail to plead essential elements of its claims..
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