CFTC Charges Binance and Its Founder Changpeng Zhao with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange

The CFTC filed a civil enforcement action against Binance Holdings Limited, three other entities, and Changpeng Zhao (CZ), alleging that Binance operated an illegal digital asset derivatives exchange and wilfully evaded U.S. law by directing U.S. customers to use the platform despite knowing it was unlicensed.