Author: Elizabeth Lopatto
Nick Barclay / The Verge
So I read through the CFTC complaint against the world’s largest cryptocurrency exchange, Binance, and it seems like the lawyers are having fun with this one. For instance: “Binance’s decision to prioritize commercial success over compliance with US law has been, as Lim paraphrased Zhao’s position on the matter, a ‘biz decision.’” I never get tired of reading these complaints.
Now to be clear, I don’t think Binance is the only entity ever to decide that skirting US law to acquire more customers — after all, US pharma companies have been making billion-dollar settlements over that exact same “biz decision.” But I do think explicitly writing that you are deliberately doing that is a real clown move. A government body can’t hold you...
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Nick Barclay / The Verge
So I read through the CFTC complaint against the world’s largest cryptocurrency exchange, Binance, and it seems like the lawyers are having fun with this one. For instance: “Binance’s decision to prioritize commercial success over compliance with US law has been, as Lim paraphrased Zhao’s position on the matter, a ‘biz decision.’” I never get tired of reading these complaints.
Now to be clear, I don’t think Binance is the only entity ever to decide that skirting US law to acquire more customers — after all, US pharma companies have been making billion-dollar settlements over that exact same “biz decision.” But I do think explicitly writing that you are deliberately doing that is a real clown move. A government body can’t hold you...
Continue reading…
Continue reading...