United

Northern

Coin

<p style="text-align: justify"><a href="https://en.coin-turk.com/israel-confiscates-isis-linked-binance-accounts-binance-issues-statement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, the popular cryptocurrency exchange, and its CEO Changpeng “CZ” Zhao continue to face tension with the United States Commodity Futures Trading Commission (CFTC). Binance has filed a statement aiming to dismiss a lawsuit presented by the regulatory agency earlier in March.</p>
<h2 style="text-align: justify" id="binance-seeks-dismissal-of-cftc-lawsuit">Binance Seeks Dismissal of CFTC Lawsuit</h2>
<p style="text-align: justify">The statement was submitted to the United States District Court for the Northern District of Illinois on October 23. In the document, Binance’s lawyers questioned the regulatory authority’s global jurisdiction. Particularly, they argued that under the logic the CFTC holds, the operations of any global cryptocurrency tied to a derivative product could be regulated. Binance’s lawyers stated in a strong statement:</p>
<blockquote>
 <p style="text-align: justify">Congress did not make the CFTC the world’s derivatives police.</p>
</blockquote>
<p style="text-align: justify">Furthermore, after a thorough review by Binance and CZ’s legal representatives, each allegation presented by the CFTC seems to have been meticulously criticized. They interpreted the regulator’s approach as merely pursuing a new theory.</p>
<p style="text-align: justify">As a result, Binance’s lawyers believe that many of the allegations mentioned in the case do not meet standard criteria. Consequently, they urged for the case to be promptly dismissed.</p>
<p style="text-align: justify">It is worth mentioning that in July, Binance had also argued that the CFTC had abused and exceeded its regulatory powers. Additionally, it is important to note that Binance, another key player, is also under investigation by the United States Securities and Exchange Commission (<a href="https://en.coin-turk.com/south-korea-approves-first-independent-cryptocurrency-law-bolstering-investor-protection/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>). The SEC had filed a lawsuit against the crypto giant in June.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-269898" src="https://coin-turk.com/wp-content/uploads/2023/10/binance-cftc-karar.jpg" alt="" width="1200" height="720"></p>
<h2 style="text-align: justify" id="innovations-coming-to-binance">Innovations Coming to Binance</h2>
<p style="text-align: justify">In addition to its legal battles, Binance continues to actively improve and enhance its offerings on the platform. Recently, it announced support for Circle’s native USDC stablecoin. The integration will be provided through the <a href="https://en.coin-turk.com/the-future-of-matic-coin-price-analysis-and-market-trends-for-polygon-matic/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polygon</a> blockchain network.</p>
<p style="text-align: justify">Furthermore, it was announced that the exchange will soon enable deposits and withdrawals for USDC. When this happens, timely notifications will be provided for users. Lastly, it was announced that USD Coin (PoS) (USDC.e) has received support from Binance. It will now be traded under the ticker MATICUSDCE.</p> Continue Reading: <a href="https://en.coin-turk.com/binance-seeks-dismissal-of-cftc-lawsuit-claims-regulatory-overreach/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/binance-seeks-dismissal-of-cftc-lawsuit-claims-regulatory-overreach/</a>

Binance Seeks Dismissal of CFTC Lawsuit, Claims Regulatory Overreach

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