Binance and Tether an unholy alliance, forcing regulators to act?

In this article of cointelegraph, the various reasons for regulators to mobilize against #Binance are explained, Binance the biggest #cryptoexchange worldwide and barely regulated / authorized.

The reasons in a nutshell:
- Binance mostly not regulated licenced by local authorities from a #AML or investor protection perspective
- Binance having issued a defective own crypto financial product, the Binance Leveraged Token (BLVT) and regulators feel deemed to protect themselves of charges not to have intervened
- Stablecoins and particularly USDT (#Tether) under regulator's scrutiny, and USDT is very strongly interlinked with Binance (and vice versa)
- Binance as the biggest crypto exchange being a good scapegoat to remember the investors of the imminent risk to deal with unregulated exchanges in general
- Still a lack of international clarity on legal and regulatory standards for the entire crypto scene, hence at times seemingly arbitrary interventions of authorities

Full article here

 

Exiting times, more to come, stay tuned

 

 

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