Founded in 2017, the company is now the world’s largest centralised exchange for digital assets, claiming more than 100 million users globally. It is led by Chinese-born Canadian billionaire Changpeng Zhao. US regulators are seeking to ban Binance, the world’s largest crypto trading platform, alleging that the firm has been operating in the country illegally. The lawsuit from the Commodity Futures Trading Commission (CFTC) said the firm cultivated US business while failing to register properly with authorities. The CFTC said Binance had been active in the US since 2019, but never properly registered with the government or complied with relevant US laws, using an “intentionally opaque” global corporate structure in a bid to escape oversight. What is your take on the US allegations ?

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