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ARTICLE · 21 APRIL 2023

CFTC Charges Binance And Its Founder With Multiple CEA Violations

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On March 27, the Commodity Futures Trading Commission ("CFTC"), the U.S. derivatives regulator, charged three Binance entities (collectively "Binance") and its founder and chief compliance...

United StatesFinance and Banking
Peter Y. Malyshev
Peter Y. Malyshev
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On March 27, the Commodity Futures Trading Commission ("CFTC"), the U.S. derivatives regulator, charged three Binance entities (collectively "Binance") and its founder and chief compliance officer ("CCO") with numerous violations of the Commodity Exchange Act ("CEA") and CFTC regulations.

CFTC's complaint does not break new ground by advocating novel legal theories, but it is remarkable in its thoroughness (73 pages), depth and the comprehensive nature of the allegations, and gives the impression that the CFTC decided to take this opportunity to clearly explain the reach of its jurisdiction and the application of the CEA to virtually all aspects of the digital asset commodity industry.

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