Crypto giant Binance charged with violating US trading and derivatives laws (updated)

Add Binance to the list of crypto heavyweights facing serious legal trouble. The Commodity Futures Trading Commission (CFTC) has charged Binance, founder Changpeng Zhao and former compliance chief Samuel Lim with allegedly violating both the agency's regulations and the Commodity Exchange Act. The company supposedly offered unregistered crypto derivatives, didn't ask users for mandatory identity verification, structured itself to avoid US regulation and even told customers how to dodge its own compliance system for US-based customers.