No 'immediate path forward': CFTC is talking to Binance after launching legal action, official says
Publishing timestamp: 2023-04-25 09:52:11
Summary
The Commodity Futures Trading Commission (CFTC) is in talks with Binance to address concerns about the company's conduct, but there is no immediate path forward in the legal battle between the two. The CFTC sued Binance last month, alleging that the platform solicited users in the US and allowed them to trade derivatives without authorization. The commissioner at CFTC hopes to find a path forward, but no decision has been made on whether to settle the case or take it to court. The crypto industry is largely unregulated, and calls for it to be brought within the regulatory fold have grown following recent blowups in the space. The CFTC commissioner hopes that Congress will introduce crypto-specific rules soon.
Sentiment: MIXED
Tickers: COIN,
Keywords: internet, cryptocurrency, coinbase global inc, business news, crime, fintech, technology, markets,
Source: https://www.cnbc.com/2023/04/25/cftc-commissioner-hopes-to-find-path-forward-in-binance-lawsuit.html