• Binance and CZ have filed a motion in an Illinois district court to dismiss charges against them, along with a separate motion for former compliance officer Samuel Lim.
• Coinbase and Bittrex have already attempted the same strategy, but court has not ruled on either request yet.
• Binance’s lawyers have also requested an exemption from the 15-page limit usually enacted for requests of this sort due to the complexity and length of the CFTC’s complaint.
Binance and CZ Pursue CFTC Case Dismissal
Binance’s legal team recently filed a motion in an Illinois district court to dismiss charges against both Binance and CZ. A separate motion will be served on behalf of former compliance officer Samuel Lim, with some parts of the CZ & Binance joint motion serving as part of his defense as well. This move follows similar attempts by Coinbase and Bittrex to achieve dismissal.
Prior to filing their notice of intent, Binance’s legal defense team notified the CFTC off the record and was authorized by them to state that they are not in opposition to the request being filed.
Requested Exemption from Page Limit
In addition, Binace’s lawyers have requested an exemption from the 15-page limit usually required for requests such as these due to the complexity and length of CFTC’s complaint which runs 73 pages long.
No Ruling Yet
So far, no ruling has been made on either request submitted by Coinbase or Bittrex regarding their own respective cases against CFTC.
It remains to be seen whether or not these motions will be successful in achieving their intended goal – that is, dismissal of charges against all parties involved – however it can be said that this is certainly a bold move by all three parties involved.