🇺🇸 Binance Reunion: CFTC’s Wild Onshoring Party! 🎉

by

Ah, the bureaucratic ballet of the Commodity Futures Trading Commission (CFTC) twirls once more, issuing a staff advisory that, in its infinite wisdom, seeks to clarify how foreign boards of trade (FBOTs) may gracefully waltz with US-based clients without stepping on regulatory toes. 🕺💼

For years, poor American projects were banished to the regulatory wilderness, forced to seek refuge offshore like exiled nobles in a Gogol novel. Now, the CFTC, with a flourish of its quill, beckons them back-but only if they play by the rules, of course. 🎭🇺🇸

Acting Chair Caroline Pham, rumored to be moonlighting at Moonpay (how fitting!), dubs this grand return the “onshoring of cryptocurrency activity.” A noble endeavor, indeed, though one wonders if the red tape will prove as tangled as a Gogol plot. 🌙💸

Foreign exchanges, it seems, might soon serve US customers without setting up local fiefdoms-provided they are licensed under a compatible regulatory regime. A small miracle, or merely a bureaucratic sleight of hand? 🤔🤹‍♂️

Are Americans Truly Returning to Binance? 🧐

Social media, that great purveyor of half-truths and hyperbole, has been ablaze with claims that Binance and OKX are rolling out the red carpet for US traders. Alas, such headlines are as reliable as a Gogol protagonist’s sanity-oversimplified and misleading. 📰🤡

The CFTC’s advisory, while noble in intent, does not grant offshore exchanges a free pass. Strict compliance requirements still loom like a Gogolian ghost, ready to haunt the unwary. 👻📜

As one astute observer noted, the true takeaway is that the CFTC aims to lure American crypto builders back to the motherland. Offshore exchanges, it seems, will not be granted blanket access-a detail lost on the headline-hungry masses. 🇺🇸🚀

This headline is as misleading as a Gogol character’s sense of direction. The CFTC press release doesn’t mention “Binance” or “offshore crypto exchanges” once. The real story? The CFTC wants to give American crypto exiles a path home. 🏠💔

Hyperliquid

– steven.hl (@stevenyuntcap) August 28, 2025

“American companies, once forced to flee like characters in a Gogol farce, now have a path back to U.S. markets,” the advisory proclaims. Yet, it is clear that offshore exchanges will not be welcomed with open arms-only open (and heavily scrutinized) doors. 🚪🔍

Binance’s Great American Ban 🛑

Binance, that titan of crypto, began banning US users in June 2019, citing regulatory scrutiny as its bogeyman. Since then, it has faced accusations of playing regulatory whack-a-mole, attempting to circumvent restrictions with the subtlety of a Gogol punchline. 🤡⚖️

In 2023, the CFTC sued Binance, accusing it of luring US customers like a siren calling sailors to their doom. The result? A settlement of nearly $3 billion-a sum that would make even Gogol’s most extravagant characters blush. 💰😱

Read More

2025-08-28 21:56