144 - Compliance Problems: Binance and Coinbase vs. SEC
Release Date: 06/19/2023
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info_outlineToday’s episode is inspired by the recent SEC conflicts with Binance and Coinbase. After taking a few days to think things over, I have some conclusions to share.
Listen to learn what compliance problems are, what is happening with the SEC, and the things to consider when compliance problems arise. Sometimes, there’s more to it than meets the eye.
If you want to learn more about compliance function and how to make it more productive and efficient, join the free training on June 19th! Join by signing up for The Rise of the Business-Like CCO here.
Let’s talk about it.
Today's episode:
[01:24] What does it mean to have compliance problems?
[02:35] Many people interpret compliance problems as a personal issue.
[03:53] Fear makes things more difficult and more complicated.
[06:21] Learn SEC’s interpretation of the recent conflicts.
[07:55] The decisions made are a good example of taking risks when there is a good chance of success.
[10:26] The SEC went after the two biggest exchanges.
[11:38] Binance is different from Coinbase in a few ways in this situation.
[14:28] It appears that customer funds are not currently at risk.
[15:54] How will Binance be negatively affected by this?
[18:04] It’s understandable where Binance is coming from, but it’s uncertain if they will be successful.
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