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Changpeng Zhao, chief executive officer of Binance, which famously has no headquarters.
Photographer: Anthony Kwan/BloombergIn this issue of the Bloomberg Crypto newsletter, ponders the implications for crypto of Binance’s regulatory woes.
Crypto has long existed on the sidelines of regulation, skirting the boundaries of country borders so that some businesses can claim to be based exactly nowhere. But it’s becoming increasingly clear that this shadowy existence won’t place them beyond rulemakers' reach forever.
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