The New Normal of Regulation After Binance's Settlement
After Binance reached a $4.3 billion settlement with the U.S. Department of Justice in 2023, the exchange's compliance process accelerated in 2024. Countries have clarified regulatory frameworks (such as the EU's MiCA) requiring exchanges to implement systems like KYC and proof of reserves. The competitive landscape for centralized exchanges (CEX) has changed, with OKX, Bybit, and others capturing market share. Investors should choose regulated platforms and pay attention to the transparency of stablecoin issuers to mitigate policy risks. While compliance may suppress market speculation in the short term, it is beneficial for the healthy development of the industry in the long term.
