Bernstein Report: The US CFTC may require Binance to cease operations in the United States

ChainCatcher news, according to CoinDesk, based on a research report from Wall Street investment bank Bernstein, "as part of a potential settlement, the Commodity Futures Trading Commission (CFTC) may require Binance to cease operations in the United States. Binance.US is a small part of Binance's overall business, accounting for less than 5% of the exchange's global operations."

In addition, Bernstein expects Binance to seek "to protect its dominant international business, as well as its licenses obtained in Europe, Africa, and Australia." Bernstein also stated that the positive regulatory factors in Hong Kong and China will offset the negative news from the U.S. market.

It is reported that last night the CFTC filed a lawsuit against Binance and Changpeng Zhao for allegedly violating trading and derivatives rules, seeking to impose a permanent trading and registration ban in the Binance case. In response, Binance stated that the lawsuit appears to contain incomplete factual statements and disagrees with the descriptions of many issues. Binance also stated today that Binance.US is not a subsidiary of Binance. (source link)