Why the CFTC Case Against Binance Will Have Very Important Consequences for Crypto - Ep. 475
Mar 31, 2023
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Austin Campbell, a Columbia Business School professor and managing partner at Zero Knowledge Consulting, dives deep into the CFTC's allegations against Binance and their implications for the crypto world. He discusses the potential for criminal charges against key figures like CEO Changpeng Zhao. Campbell highlights how this case may redefine regulatory authority over crypto assets, speculating that Coinbase could emerge as a major winner if Binance US shuts down. He also examines the legal complexities of extradition and the classification of cryptocurrencies as commodities.
In this episode, Austin Campbell, a professor at Columbia Business School, discusses the recent allegations made by the CFTC against Binance, and whether or not criminal charges will be brought against company officers such as CEO Changpeng Zhao, or CZ, or former Chief Compliance Officer Samuel Lim. He also sheds light on how this case could shape which agency will have regulatory authority over crypto assets.
Show highlights:
what the CFTC's allegations against Binance are
whether Binance and its employees will face criminal charges
what the two most likely scenarios for Binance are, according to Austin
how regulators got so many details and so much information from CZ's phone
whether CZ is personally liable and whether the US could extradite him
how the CFTC used the complaint to state that BTC, LTC, ETH, and some stablecoins are commodities
Why Austin believes Coinbase would be the "single biggest winner" if Binance US is shut down
how this case is going to help determine which agency has jurisdiction to regulate crypto assets