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Binance CEO Seeks Dismissal Of CFTC Complaint In Legal Challenge

Published 25/07/2023, 11:11
Binance CEO Seeks Dismissal Of CFTC Complaint In Legal Challenge

  • Binance’s CEO and former Chief Compliance Officer seek dismissal of CFTC complaint.

  • The exchange will submit a response to the CFTC lawsuit on July 27, seeking dismissal.

  • Reportedly, Binance’s social image was impacted by the CFTC accusations, and from facing FUD from influencers.

After Binance was accused of breaching the regulations stipulated in the Commodity Exchange Act, Binance’s CEO Changpeng Zhao and former Chief Compliance Officer Samuel Lim intend to pursue the dismissal of a complaint filed by the Commodity Futures Trading Commission (CFTC).

Bloomberg revealed that according to a court filing on Monday, Binance is scheduled to submit its response to the CFTC complaint on July 27, with the intention of seeking dismissal. The defendants have also requested permission to exceed the 15-page limit on supporting briefs. Moreover, they cited the complexity of the case and the anticipated number of arguments they need to present. The filing read:

Given the complexity of the CFTC’s Complaint and the number of arguments Defendants anticipate making in support of their Motions to Dismiss, Defendants anticipate that their Memoranda of Law in support of…

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The post Binance CEO Seeks Dismissal Of CFTC Complaint In Legal Challenge appeared first on Coin Edition.

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