# CFTC Chair Urges Offshore Exchange Safeguards After Binance Breach

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/47555
Published: 2026-11-03T10:31:50.000Z
Updated: 2026-11-03T10:31:50.000Z
Section: Regulation

> Michael Selig wants a voluntary federal registration route that would align participating crypto exchanges with U.S. cybersecurity standards.

CFTC Chair Michael Selig is urging a voluntary federal registration route for offshore crypto exchanges after Binance’s security incident, arguing that the breach exposed gaps in safeguards common to U.S. financial markets.

Under the option Selig described, an offshore exchange could seek federal registration and become subject to cybersecurity requirements comparable to those in regulated U.S. markets.

Registration would be a choice for participating platforms, not a requirement imposed on every offshore exchange.

Selig said the attack did not compromise the underlying blockchain. He also pointed to the visibility of on-chain transactions as a way to trace funds after an attack.

The CFTC regulates U.S. derivatives markets. Selig’s remarks connect the proposed registration route to cybersecurity protections for crypto trading platforms.