Bitcoin falls after CFTC sues crypto exchange Binance

The US Commodity Futures and Trading Commission has filed a complaint against the world's largest crypto platform Binance and its CEO. Changpeng Zhao has allegedly broken American derivatives rules, actively soliciting US-based users and subverting the exchange's compliance program. CFTC rules require platforms to register with the agency to let Americans trade those products. The filing has the potential to upend the exchange's operations completely. Bitcoin is now down 3% and Ethereum is sliding by 3.5%.