Binance Hit With CFTC Suit, NC Sports Betting Nears Final Vote and William Hill Nearly Loses its License

Written by:
Gilbert Horowitz
Published on:

CFTC Files Suit Against Binance: Bitcoin Back Up Above $28K

The price of Bitcoin had fallen below $27,000 Tuesday following news that the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its founder Changpeng Zhao, but was back up at $28,410 by Wednesday morning.

Our colleagues at CoinGeek have extensively covered the shakey ground Binance has been on over the years.

It was only in January that Gavin Lucas warned "Binance is bad news, is anyone surprised?".

A special agent for the Federal Bureau of Investigation (FBI), Daniel M. Sirmons, revealed under sworn deposition that according to his knowledge, training, and experience, ransomware attackers frequently use digital currency exchanges like Binance to launder or obfuscate their ill-gotten gains.

It’s not the first time Changpeng Zhao’s Binance has been linked to criminal activity using so-called “cryptocurrencies", Lucas reported.  He added that "Binance and Tether always seem to be linked to dirty dealings".

Lucas references Bitcoin co-creator Dr. Craig Wright and his view of Binance.

As it’s based in the Cayman Islands and its CEO jurisdiction hops constantly, it’s difficult to get Binance to comply with the legal processes of major governments such as the United States. Dr. Craig Wright said long ago that it was nothing more than a bucket shop used for money laundering, and it looks as if he’s once again being proven correct by the evidence.

No matter what actions Zhao takes to paint his firm as legitimate, such as taking a stake in Forbes (likely to influence its reporting), cases like these will always taint his image and that of Binance. There’s no whitewashing of the crime spree that has taken place over the past decade or Binance’s involvement in it since its launch in 2017.

Binance, Zhao, Tether, and many other advocates of ‘crypto’ goes against the transparent world envisaged by Dr. Wright,  according to Lucas.  Wright's vision, however, is alive and well via Bitcoin SV, he adds.

Revived N. Carolina Sports Wagering Bill Wins Big House Vote

Sports gambling in North Carolina soared over a major hurdle on Tuesday as the House voted for legislation to permit, regulate and tax the activity just one year after a similar measure fell short by a single vote.

The measure passed on Tuesday with a 66-45 vote.  Betting would be permitted on professional, college and Olympic-type athletics by computer, mobile app or in person by early next year.

One more House vote is needed Wednesday before the legislation can move to the Senate, which is widely expected to vote in favor of the legislation.

Democratic Gov. Roy Cooper supports sports wagering legislation, as does Republican Senate leader Phil Berger.

Sports betting is already legal in the ninth most populated state at three casino locations, one just outside the largest city of Charlotte.

William Hill Must Pay Penalties of £19.2m for Lapse in Consumer Protections

Three gambling firms owned by William Hill are to pay penalties of £19.2m for failing to protect consumers and weak anti-money laundering controls.

The record penalty comes after the Gambling Commission found new customers were able to bet large sums over short periods without proper checks.

In one case, a customer was allowed to open a new account and spend £23,000 in 20 minutes without any checks.

The commission "seriously considered" suspending William Hill's licence.

- Gilbert Horowitz,

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