CTFC Sues Binance & CEO Over Unregistered Crypto Derivatives – March 27

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$27,138

Bitcoin price has fallen 3% over the last 24 hours, following news of Binance in trouble with the CFTC.

Top-20 altcoins are down across the board too, as Ether falls 3%, BNB drops 4% and XRP is the single exception with a 3% gain.

Top Stories for March 27, 2022 🔥

👉 CTFC Sues Binance & CEO Over Unregistered Crypto Derivatives

The US Commodity Futures Trading Commission (CFTC) has sued cryptocurrency exchange Binance and its founder, Changpeng Zhao – alleging that the exchange knowingly offered unregistered crypto derivatives products in the US.

The lawsuit alleges that Binance operated a derivatives trading operation in the US and directed employees to spoof their locations. The CFTC is seeking civil monetary penalties, trading and registration bans, disgorgement, and an injunction against further violations.

👉 G7 Countries Planning Tighter Crypto Regulation

The G7 countries are reportedly preparing to propose tougher regulations on cryptocurrencies at their upcoming meeting in May.

The strategy aims to increase transparency and consumer protections, while addressing potential risks to the global financial system. Some G7 members, such as Japan and the European Union, already have cryptocurrency regulations in place, while others, such as the US and Canada, apply existing financial regulations to crypto.

The Financial Stability Board, International Monetary Fund, and Bank for International Settlements are also working on standards for digital assets.

👉 MicroStrategy Continues To Buy BTC, Makes $150M Purchase

MicroStrategy has purchased $150 million worth of bitcoin over the last month, bringing its total holdings to more than $4 billion. The company acquired 6,455 bitcoin between February 16 and March 23 at an average price of $23,238 per bitcoin.

MicroStrategy also paid off a $205 million loan from Silvergate Bank, which was set to mature in 2025, with $161 million in cash and some proceeds from a share-sale agreement.