CFTC’s Selig Uses Binance Theft to Press for Federal Crypto Exchange Oversight
By PYMNTS
AI summary of the source article
CFTC Chairman Michael Selig is using the theft of over $6.3 billion from Binance to advocate for federal supervision of offshore cryptocurrency exchanges, speaking during an appearance on CNBC on Friday, Oct. 30.
Key facts
- More than $6.3 billion was stolen from Binance.
- CFTC Chairman Michael Selig is pressing to bring offshore cryptocurrency exchanges under federal supervision.
- Selig made his case during a CNBC appearance on Friday, Oct. 30.
Source excerpt · PYMNTS
Commodity Futures Trading Commission (CFTC) Chairman Michael Selig is using the theft of more than $6.3 billion from Binance to press his case for bringing offshore cryptocurrency exchanges under federal supervision. In an appearance on CNBC on Friday (Oct. 30), he argued that the attack exposes gaps in exchange safeguards rather than a failure of […] The post CFTC’s Selig Uses Binance Theft to Pr…