Jurisdictional gamesmanship is a common strategy for crypto businesses. Here is how it worked out for Binance and its CEO. Spoiler: poorly.
www.bitsaboutmoney.com
" Finance is messy because the world is messy.
Some of the shenanigans aren’t strictly necessary or planned, but society considers an expenditure of effort required to curtail them to be wasteful or to compromise our other goals. We had all the technology required to CC regulators on every banking transaction years before slow database enthusiasts decided all transactions would eventually be publicly readable and persisted forever. We simply chose not to implement it. It would have been quite expensive and infringed on the privacy of many ordinary people and firms.
But Binance, and others, forgot the critical step, to the annoyance of their engaged professionals: you have to eventually stop growing and keep to a low profile. You have to simply be content with being fantastically rich. If you do, you can continue showing up to the nicest parties in New York, owning expensive real estate in London, and commuting to a comfortable office in Hong Kong or the Bahamas or many other places.
But crypto kept growing until the control systems could not ignore them any longer. And the control systems cannot continue to avoid knowledge of the crimes.
So, so many crimes. Many of them are what crypto advocates consider as utterly inconsequential, like serially lying on paperwork. And also Binance gleefully and knowingly banked terrorists and child pornographers. That’s not an allegation; that has been confessed to. There is no line a Bond villain will not cross. They will cross them performatively."
icg.citi.com
Fucc out here with this silly shyt. You crypto clowns are real selective with the moral grandstanding.