SBF on Twitter: "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?" / Twitter

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?

4:26 PM · Nov 3, 2020Twitter Web App

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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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and

Like in Gaming or Traditional Finance, it will be where the management is based (physically) and taking decisions.

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Adam Cochran (adamscochran.eth)

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and

That's a classic HK question with the SFC in relation to marketing securities (timothyloh.com/insights/curre) I don't think we'll get any more clarity on it unless it comes from a strong push from China.

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