: Binance filed a motion against the CFTC’s allegations of the company violating federal laws. Meanwhile, Grayscale urged the SEC to approve all BTC spot ETFs fairly.
· Binance filed a motion to dismiss the CFTC’s allegations of the company violating federal laws.
· Grayscale urged the US SEC to approve all BTC spot ETF applications fairly and orderly.
· To avoid any disparity, Grayscale argued that the market, and investors, all spot bitcoin ETF applications should be approved simultaneously.
The popular crypto exchange Binance has raised its voice against the Commodity Futures Trading Commission’s (CFTC) allegations of the company regarding the violation of federal regulations. Another notable incident that the crypto space witnessed recently is the crypto fund manager Grayscale’s push on the US Securities and Exchange Commission (SEC) to approve all the Bitcoin ETF proposals fairly.
According to a recent report, Binance and its chief Changpeng Zhao filed a motion in the US federal court to dismiss the CFTC’s complaint against the company. Earlier this year, the commission sued Binance, Zhao, and the company’s former Chief Compliance Officer Samuel Lim alleging that the company violated the Commodity Exchange Act and federal laws while operating an “illegal” exchange and “sham” compliance program.
While reacting against the CFTC lawsuit, Binance urged the court to dismiss the complaint. The statement read:
"The CFTC seeks to regulate the overseas activities of foreign corporations and individuals based on conclusory allegations that fail to establish jurisdiction over the defendants, fail to establish that the CFTC can enforce the provisions cited in the complaint extraterritorially, and fail to plead essential elements of its claims. The Court should dismiss the complaint in its entirety.”
Read full article at CryptoTale.