derivatives rule lapses

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, and Chief Executive Officer Changpeng Zhao, were sued by the US Commodity Futures Trading Commission for allegedly breaking derivatives rules. The CFTC filed the lawsuit Monday in federal court in Chicago. The derivatives regulator said Binance shirked its obligations by not properly registering with it. Representatives for Binance and Zhao, who is known as CZ, didn’t immediately respond to a request for comment. “Defendants have disregarded applicable…