Crypto exchange is not your bank

xuanling11
Coinmonks
Published in
1 min readMar 3, 2023

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Photo by Tom Butler on Unsplash

After the FTX collapsed, we learned that crypto exchange is not your crypto bank.

Now, the SEC wants to make sure regulations to stop crypto exchanges from becoming a custodian.

The custodian is the service provider to take care of your money.

Banks are the custodian of your cash.

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