Binance hit with charges for breaking rules

The allegations targeted Zhao, also known by his Twitter handle CZ, and three entities that make up his crypto empire. — Bloomberg

WASHINGTON: A top US markets regulator is charging cryptocurrency giant Binance and its founder Changpeng Zhao with multiple violations, in another move by Washington against the once high-flying sector.

Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), said the charges against Binance, the world’s largest crypto exchange, were part of a campaign to “find and stop misconduct in the volatile and risky digital asset market”.