Imagine Apple is investigated by regulators because some US people created UK account and downloaded some app not available in US.
This kind of behavior is bad, doesn’t matter which country does it.
This kind of behavior is bad, doesn’t matter which country does it.
US based companies are subject to EU privacy laws if they want to operate in EU. Facebook and Google both had to make huge infrastructure investments to comply with the GDPR.
The US fined US based tech companies for not complying with US age restrictions in the past as well.
There isn't anything controversial here. US government makes laws for US citizens and US based companies. Same with every other country on the planet.
the EU can only fine an EU entity, or prevent you from establishing an EU entity in the future.
The EU cannot fine a US company, if that US company does not have any EU operations at all.
Not that it really matters, given I haven't heard of any Apple app store apps that are legal in UK but are explicitly illegal in the US. I remember there was a scare like that with TikTok/WhatsApp last year, but it never went through, so there isn't really a real life situation that could've set the precedent for such a thing.
I don't doubt that once such a situation occurs, Apple might indeed get looked into by the regulators. Would be an interesting case to observe for sure. Either way, that hypothetical situation is much much less clear-cut than what's happening with Binance right now, though I can definitely see the similarities.
This shouldn’t be necessary, or maybe LE should go after that people a bit too? I never heard any enforcement to US citizens doing this, but always regulatory pressure.
PS: in Apple case, as long as app is free , you can create any account from any country. But regulators would not be able to show teeth there for sure anyway
I'm actually a BNB holder but the arguments here are silly.
Those other entities are businesses. If they want to conduct business in the US, they have to abide by the local laws. Just like any US business has to abide by EU laws if they want to operate in EU.
>If a US regulatory agency doesn't want its residents to interact with foreign websites, it should block their internet access to websites outside of the country.
US is literally acting in the interests of the business here trying to help them. US could block Binance, sure. But I think it is more merciful of them to give Binance a chance to fix their shit up and still let them operate in the US. Blocking those website is the last resort, as it should be.
Also, again, no one forced Binance US to register as a legal business entity in the US and conduct business here. Binance US is supposed to operate within US laws. It is their dedicated US branch for US customers that is supposed to provide services legal in the US (no derivatives, as opposed to their non-US Binance platform). Except they, allegedly, let some stuff from the non-US branch that is illegal in the US to slip through to the US customers. Binance cannot have their cake and eat it too. They either don't operate in the US or they do so while abiding the law.