For a long time, I have never been a fan of the security and exchange commission (SEC) led by his chair person Gary Gensler. I have always thought that the commission is totally against the activities of crypto and exchanges due to stringent laws and policies constantly being rolled out which obviously have affected the adoption of crypto in the United States and other countries as well but looking at the current realities of Binance CEO pleading guilty to anti money laundering (AML) policy which is against the activities of CEXs and the shutting down of Bittrex global as a result of bankruptcy, I think the commission is actually fighting a just course in ensuring the security and protection of users funds hence the need for regulatory compliance from CEXs. It began to dawn on me when this issue came up and I can now understand why Binance have been exiting countries where regulatory compliance becomes mandatory. Having already exited countries like Canada, UK, Japan, Australia and a host of others and now ready to pay a whooping $4.3 billion in fine, do you think Binance will still hold the reputation it has kept all this while or is there any other exchange one can look forward to?
