An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022. (AP Photo/Kin Cheung, File)
The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Changpeng Zhao, CEO of Binance, one of the last remaining major crypto exchanges. The suit charges that the platform
The suit charges that Zhao knowingly violated numerous laws under the Commodity Exchange Act by maintaining an "intentionally opaque common enterprise."
“Today’s enforcement action demonstrates that there is no location, or claimed lack of location, that will prevent the CFTC from protecting American investors," CFTC Chairman Rostin Behnam said in a press release. "I have been clear that the CFTC will continue to use all of its authority to find and stop misconduct in the volatile and risky digital asset market."
Samuel Lim, Binance’s former chief compliance officer, is also named in the suit.
“For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance," Behnan continued. "This should be a warning to anyone in the digital asset world that the CFTC will not tolerate willful avoidance of U.S. law."
Mark Hamrick, senior economic analyst at Bankrate, breaks down the current housing market and why he’s expecting affordability will get better as the year goes on.
Georgie Dickins, founder of Women in Leadership Global and author of ‘Leading with Impact,’ shares thoughts on women in business and how to cultivate a supportive community.
Gregory Daco, chief economist at EY and Jordan Shapiro, senior managing director at Bachrach Group, break down February’s jobs report and what it means for workers.
