CFTC Is Confident In Case Against Binance

Binance is making headlines again due to the CFTC’s confidence. Check out the latest report about this.

It’s been revealed the fact that Commodities Futures Trading Commission (CFTC) chairman Rostin Behnam says the regulator is confident in its case against Binance.

In a new interview with CNBC’s Squawk Box, host Becky Quick asks Behnam what the CFTC plans to do about Binance’s alleged long list of regulatory violations.

“As you know, we’re a civil enforcement agency. I think, to your point, this something that has been pretty well known in the crypto circles now, is that not having a headquarters, not having a location is not going to prevent the CFTC from coming after you. In this particular case, there was a clear evasion.”

She continued and said the following:

“When we looked at the entities as a common enterprise, dozens and dozens of entities scattered across the globe, with control persons up to Mr. Zhao. When you have that situation where you have a control person of a common enterprise, I think there’s a clear potential liability that we saw.”

She went on on stated this:

“And as you pointed out, clear documentation of an intent to evade the law with a very clear and direct method of saying, ‘This is what we need to do to evade US law so that we can have access to the market.’ So, we feel pretty confident in this case.”

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $27,928.

Seasoned trader Tone Vays believes that Bitcoin’s (BTC) current consolidation is setting up the king crypto for an imminent breakout.

In a new strategy session, Vays said that Bitcoin’s consolidation is healthy as it allows BTC to take a breather before continuing its trend.