Jul 16, 2021
Christine Parker, partner at Reed Smith, summarizes the slew of regulatory headlines facing Binance and how such scrutiny may affect the exchange going forward. Show highlights:
- which countries are investigating Binance
- why it has been difficult for governing bodies to regulate Binance
- whether the reports that regulatory bodies, like the CFTC/IRS/DOJ, coming after Binance are correct
- when Christine expects regulators to make a move against Binance
- how hiring ex-regulators might help Binance in Congress
- whether Binance’s strategy of leaving countries with tight regulations helped or hurt the exchange
- what Christine thinks of Binance’s strategy to localize its business model
- whether or not it is too late to avoid regulatory penalties for Binance
- why transitioning to a DAO business model would not absolve Binance of prior infractions
- how the BitMEX situation could inform Binance
- whether criminal charges could be in Binance CEO Changpeng Zhao’s future
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Episode Links
Christine Parker: https://www.linkedin.com/in/christine-parker-b09a31/
Binance Investigations
- https://www.coindesk.com/state-of-crypto-binance-is-firmly-in-the-regulatory-crosshairs
- https://www.theblockcrypto.com/post/110380/thailand-sec-binance-crypto-exchange-criminal-complaint
- https://www.theblockcrypto.com/linked/104836/binance-crypto-irs-us-government-investigation-report
- https://www.theblockcrypto.com/post/110510/barclays-customers-in-the-u-k-can-no-longer-transfer-funds-to-binance
- https://www.theblockcrypto.com/linked/110617/binance-suspends-deposits-from-key-european-payments-network
- https://www.theblockcrypto.com/post/111482/italy-binance-consob-warning
Binance Material
- CZ letter
- CZ Unchained appearance
- Binance’s compliance hiring spree