Hmm, this gives me similar TikTok vibes, the US tries to ban it, but faces public backlash, so now rely on its "allies" to do the dirty job
We never learn do we?
We never learn do we?
Binance is targeted by existing laws against money laundry, bank license etc.
TikTok is suggested spying on people.
Why would TikTok matter here at all?
And me and other people said it often enough: as soon as crypto is big enough to threaten countries control over money they will make it illegal and the loudly repeated benefit of uncontrolled money will be gone.
And it was also always clear that crypto is not solving this problem because it's by design and not a problem to solve.
There is no evidence crypto has threatened any country’s control over its money, let alone a developed country’s. And to the degree it might have, that influence is certainly lower today than it was two years ago.
And china did it before too.
The reason why the influence is lower because of all those crashes and regulations.
There is no substantial public backlash to turning crypto and its adherents into a whipping boy in America. The debate is largely as to the form.
TikTok, meanwhile, remains unbanned in America and Europe, as well as substantially in litigated. (There is also limited evidence they’ve broken existing law like Binance has.)