According to Sensor Tower, Bybit, Bitget, and OKX had nearly one million monthly active users in the U.S. in August, although not necessarily engaging in trading.
Active users on these platforms may simply be checking prices without violating U.S. regulations, but circumvention through VPNs allows some to trade without compliance.
Last year, Binance reportedly paid over $4 billion to settle allegations regarding improper trading by Americans, highlighting risks for crypto exchanges with U.S. users.
Polymarket faces scrutiny following reports of U.S. traders potentially violating a 2022 agreement, emphasizing that the industry remains under a watchful regulatory eye.
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