Major U.S.-regulated crypto exchanges are plowing money into reg-tech or expanding their compliance headcount as the threat of enforcement action looms.
in the wake of FTX's collapse and the rash of crypto lenders' filing for Chapter 11, the biggest crypto shops are trying to shore up or maintain a certain level of professionalism that shows their good standing.
"Maintaining high compliance standards can also be a competitive advantage, allowing companies like Coinbase to obtain licenses and operate in highly regulated markets that are not open to our competitors.": "If there’s an enforcement action, it’s going to cost more than what you’re spending," Tim Byun, government relations officer for crypto exchange OKX, tells Axios.
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