Unconfirmed: Why It Might Be Too Late for Binance to Avoid Regulatory Action - Ep.255

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

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021 

Oasis: https://oasisprotocol.org 

NEAR: https://near.org  

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
• • https://www.binance.com/en/blog/421499824684902301/A-Letter-from-Our-CEO-Reflecting-on-Progress-and-the-Road-Ahead
• CZ Unchained appearance
• • https://unchainedpodcast.com/listen-to-cz-compare-binance-to-bitcoin/ 
• Binance’s compliance hiring spree
• • https://www.radicalcompliance.com/2021/07/08/binance-compliance-hiring-spree/

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