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U.S. Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero said the regulator will continue to pursue cryptocurrency exchange s that break the law. In a statement quoted by Business Insider, the commissioner emphasized that “there are no pirate ships in US markets” and that “access to American customers is a privilege, not a right.” Romero added that the CFTC will not tolerate the use of virtual private networks (VPNs) and other services that help users circumvent know your customer (KYC) rules, including pop-up questions that simply ask users to confirm that they are not located in the United States. “It should be crystal clear that the CFTC will not stop in its pursuit of non-U.S. entities.” Caroline D. Pham, CFTC Commissioner Statements by representatives of the regulator came against the backdrop of several high-profile proceedings against the largest cryptocurrency exchange s. You might also like: CFTC files legal ...

Leon Foong Steps Down Amid Rising Legal Issues Foong’s decision comes as Binance faces mounting challenges due to increased regulatory scrutiny and allegations of various transgressions. Recent months have witnessed the departure of several key executives, including Chief Strategy Officer Patrick Hillman and General Counsel Hon Ng. advertisement With regulatory actions impacting Binance ’s operations in the US and Europe, the Asia-Pacific region and the Middle East have become focal points for the exchange’s growth strategy. However, Binance ’s dominance in global crypto trading has waned due to these regulatory concerns and the loss of certain banking partnerships, leading some traders to migrate to alternative exchanges. The US Commodity Futures Trading Commission ( CFTC ) filed a complaint against Binance in March, alleging that the exchange and its founder, Changpeng “CZ” Zhao, had violated derivatives laws and taken insuff...