Binance, the world’s largest trading volume by trading volume, is reportedly under investigation by the US Commodity Futures Trading Commission for potential trades made by US clients.

Bloomberg reported on Friday that Binance Holdings Ltd is under control of potential derivative contracts from US customers after receiving a message from an anonymous source.

However, the stock exchange has not yet been charged with anything wrong, and supervisory authorities now allegedly want to find out whether cryptocurrency derivatives have been bought and sold by US citizens on the Binance platform.

A spokesman for Binance told the Cointelegraph: “From a political perspective, we do not comment on communication with any regulators. We can say that we take a collaborative approach with regulators around the world and take our compliance commitments very seriously. ”

Trading in cryptocurrencies reached new heights in early 2021, with Binance borrowing $ 59 billion at the time of publication, more than double the amount of its closest competitor Huobi Global.

Recently, the Singapore-based cryptocurrency derivatives exchange Bybit was forced to close its operations in the UK after the Financial Conduct Authority banned trading in derivatives.

Binance is said to prevent a user with a US IP address from logging in to a website, but a controversial Forbes article published in October 2020 stated that founder and CEO Changpeng Zhao is regularly encouraged by users to use a VPN .

Source: CoinTelegraph

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