4 ms·

This may give US authorities enough to go after Binance.

WeylandYutani 4y ago
They're already blocked from doing business in the US. From what I heard nobody even knows what jurisdiction Binance is based in. Crypto is all super shady but that's how their advocates want it I guess?
- voytec 4y ago
  Don't they have a dedicated binance.us version? Its "Licenses" page[1] lists licences from multiple US states and Guam. It is registered as "BAM Trading Services Inc." [1] https://support.binance.us/hc/en-us/articles/360050532193 https://support.binance.us/hc/en-us/articles/360050532193
- qikInNdOutReply 4y ago
  They are a singapore company jurisdictian wise, whole city is by now just a chinese front, to avoid the embargos and hostilitys of us and chinese relations. (Similar to vietnam as final assembly place for cellphones, to avoid made in china). So its a party company, out there to keep a eye on the syphoning of funds out of china by the rich. Former founder "vanished" like so many not party animals.
  - from 4y ago
    So... China which tries to stop capital flight for some reason also secretly supports technology that results in capital flight and dollarization?
    - stevehawk 4y ago
      I'm just playing devil's advocate here but - If you control the people that run the capital flight operation, then you control who can flight capital. That may be appealing to you if you're a high enough power and want to be able to move your capital but not let the peasants do it.
    - qikInNdOutReply 4y ago
      Partial escape makes all those bribes and paid money for loyalty worth anything. Otherwise, there is no justice system, so even a billionaire can vannish over night, making all the money in the world worthless. What good is it to be a party official, if you can not garantee that your children and spouse are in safety and better off at least.
  - gautamdivgi 4y ago
    Not sure about the China angle, but if he's in Singapore he may be safe. Allegedly the Singapore-US extradition does not cover money laundering [0]. Although, I'm not sure if this will count as Fraud or Money Laundering. [0]: https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/253428.htm https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/25342...
- hanniabu 4y ago
  > Crypto is all super shady but that's how their advocates want it I guess? Binance is not crypto, it's a traditional centralized company. This goes for most other shady stuff in the space.
  - senttoschool 4y ago
    They're a centralized company as well as a crypto company. They have their own blockchain and issue their own tokens.

They're already blocked from doing business in the US. From what I heard nobody even knows what jurisdiction Binance is based in. Crypto is all super shady but that's how their advocates want it I guess?

voytec 4y ago
Don't they have a dedicated binance.us version? Its "Licenses" page[1] lists licences from multiple US states and Guam. It is registered as "BAM Trading Services Inc." [1] https://support.binance.us/hc/en-us/articles/360050532193 https://support.binance.us/hc/en-us/articles/360050532193
qikInNdOutReply 4y ago
They are a singapore company jurisdictian wise, whole city is by now just a chinese front, to avoid the embargos and hostilitys of us and chinese relations. (Similar to vietnam as final assembly place for cellphones, to avoid made in china). So its a party company, out there to keep a eye on the syphoning of funds out of china by the rich. Former founder "vanished" like so many not party animals.
- from 4y ago
  So... China which tries to stop capital flight for some reason also secretly supports technology that results in capital flight and dollarization?
  - stevehawk 4y ago
    I'm just playing devil's advocate here but - If you control the people that run the capital flight operation, then you control who can flight capital. That may be appealing to you if you're a high enough power and want to be able to move your capital but not let the peasants do it.
  - qikInNdOutReply 4y ago
    Partial escape makes all those bribes and paid money for loyalty worth anything. Otherwise, there is no justice system, so even a billionaire can vannish over night, making all the money in the world worthless. What good is it to be a party official, if you can not garantee that your children and spouse are in safety and better off at least.
- gautamdivgi 4y ago
  Not sure about the China angle, but if he's in Singapore he may be safe. Allegedly the Singapore-US extradition does not cover money laundering [0]. Although, I'm not sure if this will count as Fraud or Money Laundering. [0]: https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/253428.htm https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/25342...
hanniabu 4y ago
> Crypto is all super shady but that's how their advocates want it I guess? Binance is not crypto, it's a traditional centralized company. This goes for most other shady stuff in the space.
- senttoschool 4y ago
  They're a centralized company as well as a crypto company. They have their own blockchain and issue their own tokens.