CFTC Chair: Binance Hack Once Again Shows Offshore Exchanges Need U.S. Regulation
CFTC Chair Michael Selig said the Binance hack shows offshore exchanges lack safeguards comparable to U.S. markets. He proposed an optional federal registration path for platforms that would require matching cybersecurity standards. He also noted that the attack did not target the blockchain or on-chain contracts, and that on-chain traceability could help regulators.