(Reuters) – Binance and its CEO Changpeng Zhao are contemplating in search of a dismissal of a regulator’s lawsuit accusing it of violating the Commodities Change Act and sure associated federal laws, the corporate’s court docket submitting confirmed on Monday.

Binance is because of submit its response to the Commodity Futures Buying and selling Fee (CFTC) grievance on July 27 and plans to hunt its termination, in response to the submitting.

In March, the CFTC sued Binance, the world’s largest crypto change, and Zhao for working what the regulator known as an “unlawful” change and “bogus” compliance program.

In its grievance, the CFTC stated that from at the very least July 2019 to the current, Binance “has provided and executed commodity derivatives transactions on behalf of U.S. individuals” in violation of U.S. legal guidelines.

The CFTC declined to remark and Binance didn’t reply to a request for remark from Reuters.

Binance and Zhao had been additionally sued by the U.S. Securities and Change Fee (SEC) in June for allegedly working a “community of deception,” itemizing 13 fees in opposition to Binance, Zhao, and the operator of its supposedly impartial U.S. change.

Binance can also be beneath investigation by the Justice Division for alleged cash laundering and sanctions violations, Reuters reported earlier.