After Binance's Costly Lesson, Do Rival Crypto Exchanges Risk Running Afoul of U.S. Rules?
Summary
U.S. residents are prohibited from trading on major cryptocurrency exchanges like Bybit, Bitget, and OKX, yet nearly a million monthly active users (MAUs) were recorded in August. "Active" users include those merely downloading apps or viewing price charts, not necessarily trading. The exchanges implement measures like geofencing and KYC checks to restrict U.S. access, but users can bypass these using VPNs and fake identification. Bybit had the highest U.S. MAUs at 451,800, followed by Bitget with 281,600 and OKX with 144,000. Despite warnings, users exploit loopholes to trade, highlighting ongoing challenges in enforcing regulations.
