Binance Seeks Dismissal of CFTC Complaint, Alleges Regulatory Overreach

• Binance and its CEO Changpeng Zhao filed a motion to dismiss CFTC’s lawsuit.
• The exchange argues that the CFTC’s complaints are based on regulatory overreach, asking the court to “dismiss the complaint in its entirety.”
• Key points of Binance’s legal arguments: jurisdiction, extraterritorial claims, specific claims, anti-evasion charge.

There is no dispute that the CFTC has no regulatory authority over spot trading even in the United States, let alone abroad.

Binance, in its motion to dismiss, contends that it is not subject to the CFTC’s jurisdiction since it is an international company based outside the United States and does not operate within the country.

Source

The legal arguments put forth by Binance and its CEO revolve around several key points. Firstly, they contest the CFTC’s claim of personal jurisdi…