Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says
Summary
The recent multi-billion dollar theft from an offshore crypto platform demonstrates the necessity for international exchanges to register with United States regulators. According to Michael Selig, bringing these platforms under regulatory oversight would help ensure they implement higher standards of cybersecurity.
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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