Analysts react to CFTC claims about Binance, as CEO Changpeng “CZ” Zhao fervently denies accusations of improper compliance procedures and trading practices. In a recent blog post, CZ refutes allegations that Binance used 300 “house accounts” to trade on its platform without disclosing this information in its Terms of Use. CZ argues that while Binance does engage in trading, the primary objective is to convert crypto revenue into fiat currency to cover expenses.
Read CRYPTONEWSLAND onFurthermore, CZ dismisses claims of “insider trading,” stating that the company enforces a 90-day no-day-trading rule for employees and restricts trading when they have obtained “private information.”
CZ expressed disappointment over the CFTC filing, given Binance’s cooperative efforts with the regulator for over two years. CZ denies any lack of compliance, emphasizing the “best-in-class” technology on Binance.com and a team of 750 dedicated to ensuring adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
Additionally, CZ highlights Binance.com’s 16 licenses for offering digital asset trading services, the highest number held by any cryptocurrency trading platform, as further evidence of its commitment to compliance.
🚀 5 key reasons why Bitcoin (BTC) might hit an all-time high soon! #Bitcoin #BTC…
#ShibaInu breaks free from bearish grip! 🚀 Analysts signal potential trend reversal as key levels…
#Solana teeters on the edge of a breakout, as traders eagerly anticipate its next move…
#XRP holds strong at $0.50 despite a bearish breakdown! High trading volume shows bullish resilience.…
#FurreverToken(FURR) continues to draw investor attention with its unique appeal and a lucrative $20,000 competition,…
Each has unique features and potential to make a significant impact. For investors seeking opportunities…