bitcompare.net
Crypto exchange Binance and its CEO Changpeng Zhao intend to file a motion with the court to dismiss CFTC’s complaint.
Earlier in March, US watchdog CFTC filed a lawsuit against Binance and Zhao, citing the exchange unlawfully offered trading services for cryptocurrencies that the regulatory body considers securities.
JUST IN:#BINANCE CZ PLANS TO SEEK DISMISSAL OF CFTC CHARGES NEW COURT FILING SHOWS.#CRYPTO #BITCOIN pic.twitter.com/4HFgy40jts
— Crypto Macro (@cryptomacro14) July 25, 2023
The latest filing in the CFTC vs Binance dispute revealed that Binance and Zhao will file a joint motion requesting the court to drop the CFTC’s lawsuit against the firm. It stated that Samuel Lim, former Compliance Officer at Binance, will file a separate motion to dismiss CFTC’s charges.
Binance also requested the court to exceed the 15-page limit for another filing where the exchange will list the reasons in support of its motion. Moreover, Binance claimed that the official document can have as many as 50 pages due to the complexity of the case.
The deadline for Binance to file these motions is on July 27.