Licensing, enforcement actions and jurisdiction changes.
Regulatory records need to identify the legal entity, jurisdiction and permitted activity. A registration or licence in one market does not establish authorization in every location where an exchange is accessible.
Goldman Sachs analysts identify Coinbase and Robinhood as key beneficiaries of the SEC's new five-year regulatory sandbox for tokenized stock trading.
Bybit announced a phased exit from the Canadian market starting May 31, citing recent regulatory requirements that also drove Binance and OKX to withdraw.