Binance Boss Opens Voice About CCTC Lawsuits: Unexpected And Disappointing

Photo: Doc. Binance

JAKARTA - Binance CEO Changpeng Zhao delivered an official statement regarding the lawsuit filed against his company by the CFTC.

According to him, his party views that the CFTC's actions are groundless because Binance has acted cooperatively for the past two years.

"CFTC filed an unexpected and disappointing civil complaint," he was quoted as saying Wednesday, March 29.

Zhao revealed, after an initial review, the complaint appeared to contain an incomplete fact-reading.

"We do not agree with the characterization of the various problems alleged in the complaint, although we can only give a full response on time," he stressed.

Due to these conditions, Zhao representing Binance conveyed the following four important points.

1. Block US users based on citizenship (KYC), IP (including VPN endpoints commonly used outside the US), mobile operators, device fingerprints, deposits and bank withdrawals, blockchain deposits and blockchain withdrawals, credit card bin numbers, and more.

He realized no other company uses a more comprehensive or more effective system than Binance.

2. Binance is committed to transparency and cooperation with regulators and law enforcement in the US. To date, Binance has handled more than $55,000 demand for law enforcement and frozen / confiscated more than 125 million US dollars in 2022 and 160 million US dollars in 2023 so far.

3. Binance.com has the highest number of licenses/registrations globally, namely 16 and continues to grow, and is considered good by the user community. 4. Binance does not trade to get market profit or manipulation under any circumstances.

Di Binance, kami mencari solusi damai untuk semua masalah. Kami bekerja sama dengan pembuat peraturan dan lembaga pemerintah di seluruh dunia. Meski tidak sempurna, kami menghadap pada standar tinggi yang kerap kali tinggi dari yang disebutkan oleh peraturan yang ada," tutup Zhao.