Conversation

SBF

@SBF_FTX

·

Nov 3, 2020

1) Some other thoughts on HK: https://twitter.com/AdamScochran/status/1323651998680571906…

This Tweet is unavailable.

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SBF

@SBF_FTX

·

Nov 3, 2020

2) NOT INVESTMENT ADVICE. NOT REGULATORY ADVICE.

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SBF

@SBF_FTX

3) In general a lot of the answer here is "we'll see". As

@AdamScochran

notes, the SFC hasn't yet come out with the new policy, just noted that there _will be_ one. So take everything here with a grain of salt.

4:26 PM · Nov 3, 2020·Twitter Web App

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SBF

@SBF_FTX

·

Nov 3, 2020

Replying to

@SBF_FTX

4) There are a number of interesting distinctions here. What applies to HK _customers_ vs HK _exchanges_? What does it mean to be in HK? And who, exactly, *is* in HK?

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SBF

@SBF_FTX

·

Nov 3, 2020

5) It's often pretty opaque to people where an exchange really is. Sometimes it's opaque to an exchange itself.

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SBF

@SBF_FTX

·

Nov 3, 2020

6) Which jurisdiction has the most employees? Which has leadership? Where is it incorporated? The answer is different for Binance; Huobi; OKEx; BitMEX; FTX; Bybit; Bitstamp; etc.

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SBF

@SBF_FTX

·

Nov 3, 2020

7) Anyway, just a long way of saying: sometimes these things are subtle and non-obvious.

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