🏛 Trump monitors Binance hack as calls grow to regulate crypto platforms
U.S. President Donald Trump said at a press conference on Friday that he was monitoring the $6.3 billion hack of Binance, noting that the platform had confirmed it would reimburse customers.
In the same context, CFTC Chair Michael Selig said the problem lies with offshore platforms that are not subject to U.S. oversight. Meanwhile, The Digital Chamber called on Congress to pass urgent legislation granting the agency authority to oversee trading platforms and requiring customer funds to be kept separate from company funds.
The incident also reignited debate over the Clarity Act to regulate the market, which passed the House of Representatives last year but remains stalled in the Senate. Blockchain analytics firms such as TRM Labs attribute the attack to the TraderTraitor group, which is linked to North Korea.
📰 Source: The Block
This content is for educational purposes and is not financial advice
U.S. President Donald Trump said at a press conference on Friday that he was monitoring the $6.3 billion hack of Binance, noting that the platform had confirmed it would reimburse customers.
In the same context, CFTC Chair Michael Selig said the problem lies with offshore platforms that are not subject to U.S. oversight. Meanwhile, The Digital Chamber called on Congress to pass urgent legislation granting the agency authority to oversee trading platforms and requiring customer funds to be kept separate from company funds.
The incident also reignited debate over the Clarity Act to regulate the market, which passed the House of Representatives last year but remains stalled in the Senate. Blockchain analytics firms such as TRM Labs attribute the attack to the TraderTraitor group, which is linked to North Korea.
📰 Source: The Block
This content is for educational purposes and is not financial advice