Binance.US seeking to cut Changpeng Zhao’s majority stake: Report

In March, the Commodity Futures Trading Commission (CFTC) sued Binance and CZ for running what it declared was an “unlawful” exchange with a “sham” compliance program.The firm was accused of willfully averting U.S. law, “while engaging in a determined method of regulative arbitrage to their commercial benefit.”In reaction to the claim, Binance has actually claimed regulatory compliance, informing Cointelegraph, “We have implemented a robust 3 lines of defense technique to risk and compliance,” at the time. Source: Binance.comSince then, Binance United States bosses have actually reportedly been seeking ways to reduce CZs stake and impact over the business, worried that they might not be able to obtain particular regulatory licenses as long as CZ stays the bulk owner.Cointelegraph reached out to international exchange Binance who did not comment on the matter related to Binance US and CZ as a private and majority investor of the U.S. exchange.

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