The CFTC's case vs. Binance is mainly about US clients, like high-frequency trading firms in NYC and Chicago, using an unregistered crypto derivatives exchange (Matt Levine/Bloomberg)

Matt Levine / Bloomberg:
The CFTC's case vs. Binance is mainly about US clients, like high-frequency trading firms in NYC and Chicago, using an unregistered crypto derivatives exchange  —  Binance  —  A decent rule of thumb is that all cryptocurrency exchanges are doing crimes, and if you're lucky your exchange is doing only process crimes.



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