Binance CEO CZ Responds to US Regulator's Charges
The U.S. Commodity futures trading commission has addressed the allegations against Binance CEO Changpeng Zhao.
According to CZ Zhao, "we do not agree with the characterization of many of the issues alleged in the complaint"
CZ zhao published a blog post on Monday about the civil enforcement action against him and his crypto exchange by the U.S commodity futures trading commission. the U.S. regulators charged Binance with violations of the Commodity Exchange Act (CEA) and CETC regulations.
CZ Zhao explained
"The complaint appears to contain an incomplete recitation of facts and we do not agree with the characterization of many of the issues alleged in the complaints."
CZ noted and proceeded to address some key points. he claimed that Binanc has developed best-in-class technology to ensure compliance we block U.S users by nationality (KYC) IP, the mobile carrier device fingerprints bank deposits and withdrawals blockchain deposits and withdrawals credit card bin numbers and more.
Binance has currently more than 750 people in our compliance teams many with prior law enforcement and regulatory agency background.
Also, he added that Binance has handled more than 55,000 law enforcement requests and assisted U.S. authorities in freezing and seizing more than $125 million in funds.
"We intend to continue to respect and partner with U.S and other regulators around the world as well Binance holds the highest number of licencses worldwide"
As per the view of CZ Binance does not engage in trading for a profit or market manipulation. Binance has a 90-day no-day trading rule for employees means you are not allowed to sell a coin within 90 days of your most recent buy or vice versa. We also prohibit our employees from trading in Futures we have strict policies for anyone with access to private information like listing, launchpad, etc. they are not allowed to buy or sell coins.