Binance, Crypto Mogul Zhao Ask for Dismissal of CFTC Lawsuit (1)

Binance Holdings Ltd., operator of the world’s largest crypto exchange, and its co-founder Changpeng Zhao asked a US federal judge to dismiss a lawsuit filed by the Commodity Futures Trading Commission.

Attorneys for Binance and Zhao — also known as CZ — submittedthe motion on Thursday, arguing the regulator is overreaching and using theories relying on inconsistencies while also making unsound claims and irrelevant allegations.

Changpeng Zhao.

Source: Bloomberg

“In this case, the CFTC seeks to regulate foreign individuals and corporations that reside and operate outside the United States — outstripping the limits of its statutory authority and treading on ...