Tag: Samuel Lim

Following the recent developments involving Binance and its CEO Changpeng Zhao (CZ) with the U.S. Department of Justice (DOJ), the U.S. Commodity Futures Trading Commission (CFTC) has also announced a settlement with the crypto exchange. The CFTC also announced a settlement with the former Binance compliance officer Samuel Lim. These settlements remove a significant threat to the crypto market, where Binance is the market leader.

The former SEC executive and law John Reed Stark turned to Twitter to explain why he thinks that the U.S. Department of Justice (DOJ) will go against the crypto exchange Binance. He thinks that the U.S. DOJ has either filed or is planning to file a criminal indictment related to Binance. Money laundering entails concealing financial assets to enable their use without detection of the illicit activities that generated them.

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action against Changpeng Zhao and Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance) with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The complaint also charges Samuel Lim, Binance’s former chief compliance officer, with aiding and abetting Binance’s violations.

The U.S. Commodity Futures Trading Commission (CFTC) announced it had filed a civil enforcement action against Changpeng Zhao and Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance) with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The complaint also charges Samuel Lim, Binance’s former chief compliance officer, with aiding and abetting Binance’s violations.