Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says
Summary
The recent massive cryptocurrency theft highlights the urgent need for foreign digital asset platforms to submit to American regulatory oversight. According to a regulatory official, offshore trading venues should be required to register with the agency and implement strict cybersecurity measures matching United States standards.
Michael Selig said the record $6.4 billion theft shows why offshore exchanges should register with the CFTC and adopt U.S.-grade cybersecurity standards.
Source: Read the full story at Decrypt
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