BINANCE AND THE US APPROACH TO CRYPTO

Summary from the TLDR Crypto newsletter

Binance had a lot of issues around a lack of controls and illicit financial activities on its platform, but these problems plague any rapidly-going financial entity in a new industry. In fact, existing financial institutions, including Goldman Sachs, paid billions of dollars in the past few years for similar violations. Binance's CEO faced severe penalties while similar or worse violations by traditional banks have resulted in much smaller consequences, suggesting a bias in how the two systems are treated.