Chanpen Zhao is going to cancel the CFTC claim to Binance – Bits Media

Binance cryptocurrency exchange is preparing two petitions to cancel the lawsuit of the commissar for commodity futures (CFTC). The company collects them to submit them to 27 july.

The petitions became known from the document, which the company sent to court. The document is a request Allow to increase the 15-page limit of the presentation of the position of the crypto-rhin 50 pages. Binance explains: The limit should be increased due to the complexity of the case against the company.

In March, CFTC accused Binance of the absence of American registration and violation of federal laws to regulate commodity markets. CFTC stated in her lawsuit, that Binance uses “own accounts” to trade cryptocurrencies and manipulate assets price. The general director of the exchange emphasized: All these transactions are just an exchange of cryptocurrencies for fiat money or other assets to cover the cost of the site.

Binance CEO Changpeng Zhao (Changpeng Zhao) Immediately reacted to the lawsuit, filed to the court of the Northern District of Illinois. According to him, The exchange "does not try to profit at all costs and never manipulates the market". Zhao said, that the accusations have become "incomplete and incorrect presentation of facts."