The DOJ, OFAC, FinCEN and the CFTC settled enforcement actions against Binance, its CEO and former CCO. The coordinated settlements addressed charges against the digital asset exchange for CFTC registration failures and for violations of the Bank Secrecy Act and International Emergency Economic Powers Act sanctions programs.
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The CFTC Division of Clearing and Risk encouraged persons using certain swap execution facilities-related "prime brokerage arrangements" for swaps to consider whether the arrangements require derivatives clearing organization registration.
The CFTC filed charges against Binance, the world’s largest central digital asset exchange, and its CEO, alleging that the firm solicited U.S. customers while evading the Commodity Exchange Act and CFTC rules.
The SEC set November 8, 2021 as the "data collection initiation date" marking the end of the "phase-in" period for the de minimis threshold for registration as a security-based swap dealer.
SEC Chair Gary Gensler and CFTC Chair Rostin Behnam highlighted U.S. regulatory initiatives in "new era" for derivatives.