The CFTC lawsuit against Binance is a big deal for the crypto industry, given its general belief that the CFTC doesn’t pursue small crypto players without merit. This was evident in the Bitfinex case back in 2018, in which the crypto exchange settled with a hefty fine in 2021.
Adam Cochran, a crypto observer, reiterated a similar stance, saying the CFTC “doesn’t go after small frequent cases like the SEC,” adding that “It’s a different beast and its cases are often fatal.”
In his Twitter thread, Cochran commented that the early evidence gathered by the CFTC could prove fatal for Binance. He added that Binance could either fight the case in the U.S. or settle it outside the court, but in all likelihood, it would be forced to cease operations in the United States.
Source: Here’s why CFTC suing Binance is a bigger deal than an SEC enforcement
