Binance, CZ challenge CFTC lawsuit, seek dismissal By Cointelegraph

Crypto exchange Binance and its CEO Changpeng “CZ” Zhao requested the dismissal of a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC).

In a July 27 court filing, attorneys for Binance and CZ accused the CFTC of exceeding its regulatory authority and engaging in regulatory overreach. The filing states that the CFTC is attempting to regulate foreign individuals and corporations operating outside the United States, which goes beyond the limits of its statutory jurisdiction and interferes with well-established principles of comity with foreign sovereigns.