CFTC Chair Says Binance Hack Strengthens Case for US Oversight
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Michael Selig cited the reported $6.4 billion Binance theft in calling for tighter oversight of offshore crypto exchanges.
CFTC Chair Michael Selig said the reported $6.4 billion theft from Binance highlights cybersecurity risks at cryptocurrency exchanges operating outside U.S. oversight.
Selig argued that offshore trading platforms serving relevant markets should register with the Commodity Futures Trading Commission and face stronger regulatory scrutiny.
He also called for such exchanges to adopt cybersecurity protections comparable to U.S. standards, presenting the incident as evidence for greater safeguards around global crypto trading infrastructure.
Source: Decrypt
