Binance and CZ are attempting to dismiss the CFTC lawsuit once again !

The legal representatives acting on behalf of Binance and its esteemed Chief Executive Officer, Changpeng Zhao (CZ), have proactively issued comprehensive statements endorsing the pursuit of a motion to dismiss a lawsuit brought forth by the U.S. Commodity Futures Trading Commission (CFTC). This strategic move unfolded on October 23rd, as the legal team meticulously presented their case to the esteemed U.S. District Court for the Northern District of Illinois, aiming to garner favor for the dismissal of the CFTC's legal action against the prominent cryptocurrency exchange.
The crux of their legal argument revolves around the fervent assertion that endorsing statements made by regulatory agencies could, if left unchecked, potentially bestow upon them an expansive mandate to regulate a spectrum of cryptocurrency activities intricately tied to global derivatives products.
In the submitted legal documents, a resounding declaration was made: "Congress did not vest the CFTC with the authority to act as the global derivatives police, and, therefore, the Court should vehemently reject any efforts by the regulatory body to overstep the bounds set by prevailing legislation."
Moreover, the legal groups aligned with Binance and CZ undertook a painstakingly thorough examination of each and every allegation leveled by the CFTC. Their emphasis was particularly placed on underscoring that the regulatory agency is pursuing a groundbreaking legal theory in its accusations of tax evasion, all the while failing to meet the requisite legal standards in other crucial aspects.
As a culmination of their legal argument, the representatives formally beseech the court to "dismiss the Complaint with prejudice" in a manner that unequivocally communicates their unwavering belief that the allegations lack substantive merit and should be summarily and unequivocally rejected. This proactive stance signals a profound confidence in the righteousness of their position and an assertion that the legal foundation of the CFTC's claims is fundamentally flawed.