Fast footwork: Binance has danced around regulations -- and even moved itself -- to run its exchange the way it wants
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Quick Take
- Binance has become adept at moving to where regulations are most favorable, from greater China to Japan to Malta
- The exchange giant, though, often complies with regulations regarding money laundering and customer information
- Still, a loophole allows moving upwards of $10,000 — two bitcoin at a time — through the exchange anonymously and a grand forthcoming plan to decentralize could further expand that loophole
The Block recently looked deeply into the strategy at Binance, the world’s leading crypto exchange. Here, contributor Amy Castor explores some of the thorny questions surrounding Binance and how it does business. Since launching in 2017, Binance has found favor with high-frequency traders, made hundreds of millions in profits, and seen astonishing growth under its charismatic […]
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