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Eleven years after the Winklevoss twins first applied for a Bitcoin spot ETF, the U.S. Securities and Exchange Commission (SEC) finally approved it for trading on January 11, 2024. The approval of an Ethereum spot ETF is also imminent. As crypto continues its march toward mainstream acceptance, regulatory scrutiny remains intense, with a focus on compliance and transparency.
The manifestation of regulatory pressure is best exemplified by Binance’s legal woes. In March 2023, the U.S. Commodity Futures Trading Commission (CFTC) charged Binance and its founder Changpeng Zhao (CZ) with violating the Commodity Exchange Act (CEA) and CFTC regulations. By November 2023, Binance reached a settlement with the CFTC, agreeing to pay $2.85 billion in fines while committing to regulatory compliance. This amount included $1.35 billion for trading fees from illicit assets, $1.35 billion in fines, and $150 million in civil penalties borne by CZ.
Following the Binance settlement, KuCoin has become the next crypto exchange in the crosshairs of the CFTC.
<h2 class="wp-block-heading" id="h-unpacking-the-charges-and-magnitude-of-legal-actions">Unpacking the charges and magnitude of legal actions</h2>
On March 26, 2024, the CFTC charged KuCoin with multiple violations of t…
The post <a href="https://coinedition.com/why-cftcs-lawsuit-against-kucoin-could-be-the-best-thing-to-happen-to-crypto/" rel="noopener noreferrer nofollow">How KuCoin’s Legal Battle with CFTC Might Boost the Crypto Market</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

How KuCoin’s Legal Battle with CFTC Might Boost the Crypto Market

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