In an interview with CNBC, Michael Selig stated that the Binance hack reinforces the case for federal oversight of offshore cryptocurrency exchanges. Selig said the blockchain could give investigators...
Summary
- In an interview with CNBC, Michael Selig stated that the Binance hack reinforces the case for federal oversight of offshore cryptocurrency exchanges.
- Selig said the blockchain could give investigators more ability to track stolen funds than they would have in a conventional bank robbery.
- He acknowledged that hackers could use mixing services such as Tornado Cash to make funds harder to trace, but said blockchain records can still help investigators follow the money.
- He said the CFTC wants to offer exchanges a route to register federally and become subject to cybersecurity safeguards.
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