[eastern]

I don't care about Binance or CZ or even crypto but it was worthwhile wading through the article just to learn this:

"The U.S.’s point of view on the matter, elucidated at length in any indictment for financial crimes, is that if you have ever touched an electronic dollar, that dollar passed through New York, and therefore you’ve consented to the jurisdiction of the United States. Dollarization is very intentionally wielded like a club to accomplish the U.S.’s goals."

[justaj]

So wait, does this mean that if an exchange is far outside of the US jurisdiction, it can be subject to the US laws simply by trading in dollars?

How is that even remotely legal?

[eastern]

It's completely legal under the law called 'might is right'.

Forget about exchanges. If a random business anywhere in the world buys a product from a factory in a neighbouring country and settles in dollars, this applies.

[appplication]

Why wouldn’t it be? The exclusive purpose of crypto is to circumvent existing regulation for financial transfers. The US government would obviously not be so rosy about that idea, nor would it recognize the “sovereignty” of crypto such that its laws would not apply.

[csomar]

You can’t have real dollars without a US bank account.

[wolf550e]

The US military and the US as a large market you want to trade with make it legal.