The Commodity Futures and Trading Commission (CFTC) has filed a complaint against crypto exchange Binance, its CEO Changpeng Zhao, and former compliance officer Samuel Lim over alleged violations of US trading rules. The regulator accuses Binance of soliciting US users and subverting its "ineffective compliance program". The complaint alleges that Zhao and Lim sought to cultivate US institutional customers, and purposefully concealed the locations of the exchange's subsidiaries. The CFTC claims Binance's VIP programme, designed for high net worth individuals, concealed the locations and identities of its users, breaching controls designed to prevent money laundering or terrorism financing. Zhao and Lim are accused of violating eight provisions of the Commodity Exchange Act. The lawsuit heaps further pressure on Binance, which has been subject to investigation by a number of US regulators.