CFTC chair on Binance hack: 'These are unregulated offshare exchanges'

CFTC chair on Binance hack: 'These are unregulated offshare exchanges'

CFTC Chairman Michael Selig joined "Squawk on the Street" to discuss the $6.3 billion Binance hack, saying that this "proves our exact point in proposing regulations for crypto markets."

CFTC proposes cybersecurity rules for crypto exchanges

The CFTC proposed cybersecurity rules for crypto exchanges and BTC barely moved near $77,306. Why this structure headline is background, not a catalyst.

Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says

Michael Selig said the record $6.4 billion theft shows why offshore exchanges should register with the CFTC and adopt U.S.-grade cybersecurity standards.

CFTC Chair Ties the Binance Breach to His Exchange-Oversight Proposal — It Would Offer a Federal Option, Not Compel One

CFTC Chairman Michael Selig did not treat the Binance breach as just another offshore security failure. On CNBC’s Squawk on the Street Friday, he read the approximately $6.3 billion hot-wallet drain as evidence for a framework the agency proposed weeks earlier. The breach, Selig told CNBC, “proves our exact point in proposing regulations for crypto […]

CFTC Chair Seeks Federal Registration Option After Binance Security Incident

Michael Selig said he hopes crypto trading platforms can have a federal option to register with the agency.

CFTC chair cites Binance's $6.3 billion hack to push offshore exchange registration

The Binance hack underscores the urgent need for robust cybersecurity measures and regulatory frameworks to protect the crypto industry.