![image.png](https://cdn.steemitimages.com/DQmQEuh1ZtaRHUUonB8WbLcJKrMVYjQ4riPNiXNMx3f7X8s/image.png) *** **Our take on this article:** Despite the regulatory onslaught on Binance it continues to maintain its position as the leading crypto exchange in the world, by volume. There is also no sign of Binance suffering any business loss as a consequence. We surmise that there are many contributing factors for this anomaly. Firstly, Binance has established itself as a reliable crypto exchange among its customers, who presumably are mainly retail investors who are young. Institutional investors are likely to be few in comparison and perhaps relative new customers of the exchange too. Having established itself as a reliable crypto exchange, any warnings from the regulators are likely to have little impact among the predominantly young retail investors. Second, regulators have a trust deficit among the younger generations, especially in the developing countries. This is partly due to the fact that most regulators in these countries are controlled by politicians, many of whom are corrupt. Third, the available choices of licensed crypto exchanges available in most of these jurisdictions are limited. Besides that the licensed crypto exchanges in these jurisdictions do not offer competitive fees and a wider choice of cryptos for trading or investments compared to Binance. In fact, their fees in some cases can be prohibitive. Authorities, whilst forcing its citizens to use locally licensed crypto exchanges, do not ensure an attractive market for them. Fourth, Binance also provides many other financial products such as derivatives, Binance Earn, Binance Pool, Binance Visa Card, NFTs, P2P Trading and many more. In terms of product offerings, the other crypto exchanges fall far behind Binance. Until and unless, the regulators license crypto exchanges that can match the product offerings of Binance, it would be unfair of them to restrict its citizens to completely rely on the locally licensed crypto exchanges. [Referenced article](https://cointelegraph.com/news/binance-pushes-back-against-warning-from-south-africa-regulator)
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