The Commodity Futures Trading Commission (CFTC) has charged Binance and its CEO, Changpeng Zhao, with financial crimes, including willful evasion of federal law and operating an illegal digital asset derivatives exchange. This comes after years of suspicions and investigations into Binance’s market manipulation practices, and serves as vindication for those who have long called for regulation in the cryptocurrency space.
Binance, “It’s not a matter of if, it’s a matter of when.” And now that when has finally arrived.
CFPC Charges Binance CEO with Financial Crimes
After years of investigation and suspicion, the Finance industry is finally seeing justice with the CFPC charging Binance and its CEO, Chang Peng Zhao, with financial crimes. This announcement comes as a relief to many who have long suspected Binance of market manipulation and other wrongdoings.
CFTC’s Charges Against Binance
As if the CFPC’s charges weren’t enough, the CFTC has also charged Binance with willful evasion of federal law and operating an illegal digital asset derivatives exchange. This double blow from regulatory authorities shows just how serious the charges against Binance and its CEO are.
Years of Investigation and Suspicion
For those who have been following the case against Binance and its CEO, this news comes as no surprise. Investigations into Binance’s manipulation allegedly goes all the way back to November of 2018, and this latest chapter is just the culmination of years of suspicion.
The Long-Awaited Justice
For many in the Finance industry, the news of Binance’s charges and impending legal proceedings is long-awaited justice. All too often, companies and CEOs who engage in illegal or unethical practices are able to skirt the law and avoid punishment. But in this instance, it seems the hammer is finally coming down on Binance and its leadership. Will the consequences be enough to deter similar behavior from other companies in the future? Only time will tell.