• BitBoy Crypto believes that the CFTC lawsuit towards Binance is extra of a swipe on the SEC than Binance.
• Eleanor Terrett shares that her sources point out that the SEC would file the same lawsuit towards Binance in response to the CFTC lawsuit.
• On March 27, the CFTC filed a lawsuit towards Binance, claiming it was buying and selling by itself change utilizing 300 accounts linked to Binance CEO CZ.

Ben “BitBoy Crypto” Armstrong tweeted his opinion on the Commodity Futures Buying and selling Fee (CFTC) lawsuit towards Binance. Armstrong believes the CFTC lawsuit is extra of an affront to the U.S. Securities Change Fee (SEC) than to Binance.

In a earlier tweet, Armstrong shared a screenshot of particulars concerning the CFTC lawsuit. The screenshot confirmed that the CFTC considers bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT), and Binance USD (BUSD) to be commodities.

Notably, this contrasts with the SEC’s place on the matter. The SEC publicly considers cryptocurrencies and digital belongings to be securities. Intimately, the SEC is waging an ongoing authorized battle with Ripple over accusations that the blockchain developer and creator of the XRP token offered them as unregistered securities to buyers.

Fox Enterprise reporter Eleanor Terrett additionally tweeted updates concerning the CFTC lawsuit towards Binance. In line with Terrett, sources point out that the SEC might file the same lawsuit towards Binance to counter the CFTC lawsuit.

On March 27, the CFTC filed a lawsuit towards Binance, claiming the cryptocurrency change was buying and selling by itself platform utilizing 300 accounts linked to Binance CEO Changpeng Zhao (CZ).

Throughout the related interval, Binance traded by itself platform by way of roughly 300 “inner accounts” that are all immediately or not directly owned by Zhao (…) Zhao additionally traded on the Binance platform by way of two particular person accounts.

Accordingly, Zhao launched an announcement in response to the allegations. Zhao referred to as the civil go well with “surprising and disappointing” after greater than two years of cooperation with the CFTC. In his response, Zhao solely detailed a couple of key factors, noting {that a} full response will comply with sooner or later.