Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says

The record-breaking hack of Binance is exactly why offshore crypto exchanges need U.S. oversight, CFTC Chairman Michael Selig argued, using the roughly $6.4 billion theft to press the agency’s case for a federal rulebook. Speaking to CNBC on Friday, Selig said the breach “proves our exact point” behind the crypto-market regulations the agency proposed earlier this month. Myriad: Where does Bitcoin go next? Click to make your prediction. “The real issue here is that these are unregulated offshore...