There are investigations ongoing concerning the allegations against one of the world’s largest crypto exchanges, Binance. An American regulator, US Commodity Trading Futures Commission (CTFC), heads the investigation regarding some suspicious activities concerning American traders using the platform against the nation’s laid down regulations. Sources explained that the exchange is not registered with the body, making it illegal to support the alleged act. The CTFC regulates the derivative industry within the country, making sure all derivative-related businesses follow regulations. The watchdog expresses its concerns over American traders’ support on the platform without informing the regulator of the incident. Many regulators within the American crypto space continue to make the industry safe for traders, but some wonder about the implication of the alleged regulation violation. Binance might not face sanctions over alleged violation Insiders explained that the US body has not accused the exchange of misconduct and that the accusations might not lead to sanctions by CTFC. The watchdog explained that cryptos are commodities, meaning that it has the power to regulate the asset, which also means that before the asset’s futures or derivatives are traded, exchanges must inform the sector’s regulator beforehand. ?  FinexBOX Review – Is FinexBOX Scam or Legit? There has been a supposed response from the firm’s CEO, Changpeng Zhao, who shared via a tweet that ‘it’s not a bull market without FUD.’ While no one can point out who or what, he was referring to, some claim that the entrepreneur talked about the allegations. Historically, Binance is known to follow America’s regulations as it prevents the region’s residents from accessing its official website while creating an alternative that complies with US regulations. Traders know the site as Binance.US, and it is strictly for traders and investors based in the United States. One of Binance’s executives, David Princay, refused to give details on the investigation news but assured that the firm would do something about it. It noticed that some US residents, who were non-US citizens, were accessing the Binance platform. The executive added that the firm was doing all it could to meet the region’s regulatory standards. Regulators continue to face criticism This allegation might have come at the wrong time as many US regulators face backlash from the citizens they hope to protect. Amongst crypto regulators within the region, SEC is known as the most controversial. Many people claim that the body lacks clear regulations and ‘often creates confusion’ within the digital asset space. What’s on many people’s minds when they hear SEC is the current legal battles the regulator is having with fintech firm Ripple. ?  StakeWise Raises $2 million Ahead Of ETH 2.0 Launch The watchdog sued Ripple for violating federal laws by not registering its cross-border token, XRPs, as securities. The firm raised numerous arguments, claiming that XRPs are not securities but cross-border payment tokens. SEC does not buy the argument as they both continue to face legal procedures to conclude the ongoing legal issues. The watchdog has refused to say anything on the suit. Still, Ripple informed some months ago that the body refused the settlement, and its executives would likely face court proceedings regarding the issue.