- Fulfilling the terms of service provision/control for US citizens (this is an internal US issue, and they have the right)
- Providing, or rather, the "through fingers" solution to help bypass sanctions, financing and assistance in the transit of funds for the representatives of the country, the recognized aggressor and terrorist.
In doing so, Binance tried to "turn on the fool" and pretend that they do not understand what they are violating and how
In a word - we are watching the development of events!
One of these commitments like you have said, I don't think to bypass the sanction by any means will be a good taste for binance, it would be like robbing peter to pay Paul meaning no resolution because the matter will later surface and I don't think CZ would want this option. To me that will still not create a very good business environment for binance and crypto community in US as fear will still be locked in the air.
That is long gone. It was multi million business and there is no coming back in the US geo for Binance for time being. They should have done the ToS acceptance as per the government since very long and it’s not like Binance is completely at the fault but the government authorities as well. The Binance did Update their system time to time. First they had no KYC, then they were supposed to do the basic KYC and later it all started with full KYC concept as per the account level.
That part was already clear and most of the exchangers do follow it no matter what. Over the period of time authorities have changed many asset natures from cold asset ti securities from trading commodity to commission and what not.
It’s obvious any business would fail to adopt over the time if they are changing the rules like clothes.