Post
Topic
Board Economics
Re: Binance crisis - how will it affect the crypto market?
by
DrBeer
on 26/06/2023, 13:58:20 UTC
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.
Well, whatever it was - but Binance tried to do it, and then also tried to pretend that he did not understand what it was about. The problem of circumventing sanctions to stop funding a terrorist country means that tomorrow Binance will help ANY rogue country, receive uncontrolled funding, bypass international sanctions.

Now I am writing an answer, and Kyiv is undergoing another rocket attack from the country of an international terrorist, explosions are not far from me, air defense is working ... And this is a consequence of the actions of many, including Binance
That is both against liberalism and also against the so called freedom USA always roots for. USA is not a free nation, it's not filled with freedom, it is one of those nations that has the most strict laws and regulations that it might as well be a dictatorship at this point, you do change the president but nothing changes when the president changes, just because Robert De Niro can say fuck trump doesn't mean that it's a free nation.

Binance is a private company, and not a USA based one neither, and it does cater to Americans if they want to, they do not force anyone to use it, they offer it and if anyone wants to use it then it's available, but you want USA to be able to block Binance from working with Russians as well? You think USA should even have the right to tell Binance to stop working with Russian citizens just because of their presidents war? What a freedom.

Somewhere I can agree with you, but in general I disagree. Let me explain why...

To begin with, there is no need to "idealize" the concept of freedom. Freedom is basically everything that is not prohibited by law Smiley
And in this regard, the U.S. does absolutely legitimate - you are a U.S. citizen, you must obey the laws and adhere to them. If there are "dodgy citizens" who want to live in a successful country and not pay for it - we will find you and you will pay in full for cheating and actually stealing taxes (deliberate tax evasion, hiding additional income).

The other side is Binance. Yes, it is not a company from the U.S., and there are no claims to it. There is a "strong recommendation", from the U.S. government, not to help unclean hands, U.S. citizens, to do unlawful acts. In general, there are no more problems.
I don't know where you live, but I think your country also signed up to and complies with some of its international obligations, such as anti-money laundering, combating the financing of rogue and terrorist regimes, etc. Although this applies not only to your fellow citizens, but also to companies and people with other citizenship.
This is normal in the age of globalization.