US regulators have banned foreign crypto exchanges to offer their service to US customers without getting regulatory clearance. However, the ban on foreign exchanges has done little to nothing in terms of US traders accessing these foreign crypto exchanges. A recent research report from Inca Digital has shown thousands of US crypto traders bypass the ban to trade crypto derivatives with high leverage on foreign exchanges such as Binance and FTX.
The main reason for US traders to access foreign unregulated exchanges is because regulated platforms in the country don’t allow for such high leverage trading. Leverage trading allows traders to bet on the future outcome of the market and with high leverage options come greater financial risks.
Financial regulators such as CFTC in the US continuously warn traders from accessing these unregulated platforms as they might not be able to seek legal help in case of fraud or other losses. CFTC said,
“U.S. customers will likely have little or no

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Źródło: https://coingape.com/us-crypto-traders-are-bypassing-foreign-exchange-ban-to-trade-derivatives-research/