Binance, the world’s largest trading volume by trading volume, is reportedly under investigation by the US Commodity Futures Trading Commission for potential trades made by US clients.

Bloomberg reported on Friday that Binance Holdings Ltd is subject to regulatory control of potential derivative contracts from US customers after receiving a message from an anonymous source.

However, the stock market has not yet been charged with anything wrong, and regulators now seem to be deciding whether cryptocurrency derivatives have been bought and sold by US citizens on the Binance platform.

A spokesman for Binance told the Cointelegraph: “From a political perspective, we do not comment on communication with any regulators. We can say that we take a collaborative approach with regulators around the world and take our compliance commitments very seriously. ”

Crypto-derivatives trading reached new highs in early 2021, with Binance itself at $ 59 billion at the time of publication, more than double that of its nearest competitor Huobi Global.

Recently, Singapore-based cryptocurrency derivative exchange Bybit was forced to close its operations in the UK after the Financial Conduct Authority banned derivatives trading for retail.

Binance reportedly prevents users from US IP addresses from accessing the site, but a controversial Forbes article published in October 2020 claimed that founder and CEO Changpeng Zhao regularly encouraged users to use VPNs.

Source: CoinTelegraph

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