(Reuters) -Binance and its CEO, Changpeng Zhao, are planning to seek the dismissal of a regulator’s complaint, accusing it of violating the Commodity Exchange Act and certain related federal regulations, the company’s court filing showed on Monday
Binance is due to submit its response to the Commodity Futures Trading Commission (CFTC) complaint on July 27 and plans to seek dismissal, according to the filing.
The CFTC in March sued Binance, the world’s biggest crypto exchange, and Zhao for operating what the regulator alleged was an “illegal” exchange and a “sham” compliance program.
In its complaint, the CFTC said that from at least July 2019 to the present, Binance “offered and executed commodity derivatives transactions on behalf of U.S. persons” in violation of U.S. laws.
The CFTC declined to comment and Binance did not respond to a Reuters request for comment.
Binance and Zhao were also sued by the U.S. Securities and Exchange Commission (SEC) in June for allegedly operating a “web of deception,” listing 13 charges against Binance, Zhao and the operator of its purportedly independent U.S. exchange.
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Binance is also under investigation by the Justice Department for suspected money laundering and sanctions violations, Reuters reported earlier.
(Reporting by Juby Babu in Bengaluru; Editing by Varun H K and Anil D’Silva)