Binance and CZ file motion to dismiss CFTC’s lawsuit
Binance, its CEO Changpeng Zhao (CZ), and the company’s former compliance chief Samuel Lim seek to dismiss the complaint filed by the US CFTC. On March 27, 2023, the Commodity Futures Trading Commission took legal action against Binance for violating the Commodity Exchange Act and offering futures trades without registering as a futures commission merchant (FCM). You might also like: US CFTC takes legal action against Binance, crypto markets fall Moreover, according to the motion , the defendants seek to file two separate motion s to dismiss CFTC’s lawsuit . Binance and CZ file a joint motion while Lim goes independent. The defendants requested the court to allow them to respond with a 50-page motion while currently limited to only 15 pages. Per the document, the defendants’ response against the CFTC needs to be submitted by July 27 to the US District Court for the Northern District of Illinois. Last month, the US Securities and Exchange Commission (SEC) sued Binan...