That's right but for now, they're the center of attraction and I think that will serve as a warning for the other known and big exchanges that has a lot of customers from those countries that have issues with them. It's like that they're giving a sample through Binance and if the others won't comply immediately or they will turn themselves blind from this, maybe they will be the next ones that will be put into hot seat by the SEC. Yeah, only time will tell when.
Looking at the current Binance position on the market, surely the urgency or priority from the regulator is more concerning to them compared to others. But that doesn't exclude others to comply with the applicable regulation in the meantime, at some point in time, the authority will look back and demand clarity of how the business operates. If turns out they were not compliant in the past, I believe the SEC will take the matter into account.
As of now, I agree this is a wake-up call specifically for businesses in the cryptocurrency ecosystem to carefully and thoroughly reflect whether they meet the applicable regulator or policy, or not.
Yes, that doesn't exempt the others from the compliance that the regulators might ask them. While there can be a lot of these advisories that are going to come in the bull run. As of now, that's all what they need to make based on the situation that Binance is dealing with them.
Well then, we're going to see if something different might come then after they're done with Binance. All the compliance were done, each country has their own rule towards them, so that's it.