Binance filed to dismiss a CFTC lawsuit alleging it offered illegal commodities trading products to U.S. residents. The U.S. Commodity Futures Trading Commission (CFTC) is reaching beyond its jurisdiction in trying to sue Binance, the global crypto exchange said in a motion to dismiss the regulator's lawsuit against it. The filing leans heavily on the view that the CFTC is overreaching in suing Binance, which does not operate in the U.S., and its CEO Changpeng "CZ" Zhao, who does not reside in the U.S., the filing said.