On: Binance commingled customer funds and company revenue, former insiders say

[mikeyouse]

Alas, if you serve US customers (which they do) you need to abide by US financial rules.

[smoovb → mikeyouse]

Binance US, separate entity, serves US customers. Binance from the article does not.

[pcthrowaway → smoovb]

Weren't those separate entities found to have comingled funds though?

[diab0lic → smoovb]

Binance from the article most certainly does: https://amp.cnn.com/cnn/2023/03/27/business/binance-cftc-law...

[smcl → mikeyouse]

This would also be an issue in the UK too - mixing client money with company money is a big no-no. I imagine plenty of other countries have similar regulations.

[raverbashing → mikeyouse]

Except this is more akin to "don't serve food that was left under room temperature for a day" than an arbitrary procedural US-rule.