There was clear documentation of Binance's intent to evade the law, said U.S. Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam in a CNBC appearance on Tuesday.
The CFTC on Monday sued Binance and CEO Changpeng Zhao, alleging they knowingly offered unregistered crypto derivatives products. The regulator is charging the exchange and its founder with allegedly violating laws against offering futures transactions, failing to register as a futures commissions merchant and poorly supervising operations, among other things.