US regulator sues crypto exchange Binance, CEO for 'willful evasion'

US regulator sues crypto exchange Binance, CEO for 'willful evasion'

FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance, at the Viva Technology conference in Paris, France June 16, 2022. REUTERS/Benoit Tessier

The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator alleged were an “illegal” exchange and a “sham” compliance program.

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