The world’s largest cryptocurrency exchange, Binance, has sued the US Commodity Futures Trading Commission (CFTC) for illegal transactions. After the lawsuit, the first statement came from Binance.
Binance spoke for the first time after the lawsuit filed by the CFTC. A spokesperson told Decrypt that the lawsuit filed against Binance and CEO Changpeng Zhao unexpected and disappointing said that:
“The complaint made by the CFTC, with whom we have been collaborating for more than two years, was unexpected and disappointing for us. Despite all this, we at Binance will continue our plans to continue working in harmony with regulators in the US and around the world.”
Binance spokesperson also mentioned that it has invested millions of dollars in the last two years to prevent US users from using the global platform outside of Binance.US. He added that as part of this process, Binance has increased its compliance team from 100 people to 750 people.
The CFTC filed a lawsuit against Binance and its CEO, CZ, for regulatory violations today (Monday).