The Commodity Futures Trading Commission (CFTC) is attempting to sue Binance outside of its jurisdiction, the global crypto exchange said in a move to dismiss the regulator’s action.
According to the petition, the CFTC is overreaching in suing Binance, which does not operate in the United States, and its CEO Changpeng “CZ” Zhao, who does not reside in the United States.
According to the petition, the first six CFTC counts “do not apply to the foreign conduct alleged here,” and several of the charges fail to reach the legal criteria required by statutory requirements.
