Binance under CFTC investigation over trading activities: report

Re:Binance under CFTC investigation over trading activities:... by JumpCrisscross on Friday March 12, 2021 @12:25PM (#26438225)

> an American citizen signs up for a service that he's forbidden from using and somehow that's the company's (that's offering that service) fault?

Americans aren’t forbidden from using Binance by the U.S. The U.S. says if you’re doing business with Americans, you have to follow these rules. Binance isn’t following those rules.

One solution is to follow those rules. Another is to not do business with Americans. Either way, the obligation is on the vender. Not the consumer. (If the consumer lies about being American, the vender may be able to collect damages.)

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Re:Binance under CFTC investigation over trading activities:... by mszcz on Friday March 12, 2021 @04:16PM (#26441035)

> Binance isn’t following those rules.

Allegedly ;)

> Either way, the obligation is on the vender.

Yes, but that's an obligation that's put forward by the US govt. If I'm incorporated in another country why do I have to concern myself with their market regulations?

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Re:Binance under CFTC investigation over trading activities:... by JumpCrisscross on Saturday March 13, 2021 @06:50AM (#26445970)

> why do I have to concern myself with their market regulations?

Because the people you are doing business with, Binance, decided to use U.S. dollars. And, allegedly, to do business with Americans.

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Re:Binance under CFTC investigation over trading activities:... by mszcz on Saturday March 13, 2021 @05:19PM (#26450606)

We seem to be going in circles ;) I'm ok to let this go ;)

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