2026-01-12 03:31:07

After the launch of the one-click cryptocurrency trading feature on Platform X, the impact on Chinese exchanges has been seriously overestimated. The key bottleneck remains licensing issues—currently, only US compliance licenses have been obtained, and trading permissions are only open to US users. This logic is similar to the paths taken by IBKR and PayPal, where KYC verification gets stuck for domestic users, and most people can only watch the market without being able to trade.

From a business perspective, there is an interesting paradox: some highly profitable businesses are inherently operated in gray areas to make money. Platforms need to find a balance between compliance and business opportunities when expanding globally, but if they are completely constrained by a single country's regulatory framework, they might lose market opportunities. This is also why global exchanges continue to focus on multi-licensing and multi-region strategies.

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NightAirdropper

· 12h ago

Haha, KYC causing trouble again, just can only watch the market unfold with a helpless stare --- The license bottleneck has become an old routine, X can't escape it either --- Compliance vs. profit, always a dilemma, no wonder the big players are expanding in multiple regions --- To put it simply, it's still that saying, money is in the gray area --- American users are having a great time, and we have to find agents to play with again --- After blowing the multi-license strategy for so long, how many can actually be implemented --- KYC is a hurdle that can block people more than the trading functions themselves --- Not being able to get the market data makes me feel so uncomfortable --- The path to compliance is getting narrower, no wonder everyone is trying to operate across multiple regions --- The license issue, to put it plainly, is just governments competing for resources

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ImpermanentTherapist

· 01-12 04:00

It's the same old trick, KYC trapping mainland users. This wave of X can't really move Chinese exchanges; frankly, it's just tighter regulatory traps. I totally understand why you can't catch the market moves. A multi-license strategy is indeed key, but who dares to fully implement it? Compliance and profit are inherently at odds. Exclusive for US users? This is just a test; we're watching. Licenses are being contested by various countries, no wonder platforms are...

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GateUser-c799715c

· 01-12 04:00

Watching the market and missing out on gains, this feeling is so real haha Licensing is the ceiling; X wants to expand globally but has to go country by country Making money in the gray area is spot on; compliance and profit are inherently at odds A multi-licensing strategy is essential, otherwise you'll be deadlocked by single regulation KYC carding, every major platform is doing it, the routines are all the same

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GateUser-e19e9c10

· 01-12 03:59

Looking at it, to be honest, the KYC hurdle is just too high. American users are happy, but we still have to use VPNs to watch the show. Having multiple licenses in multiple regions sounds good, but in reality, it's just dancing in the gray area. Do whatever it takes to make money. This move by X isn't really innovative; PayPal has been doing this for a long time. The only difference is that it's in the crypto world. The licensing bottleneck probably can't be solved in the short term; compliance costs are just too high. If we really want to shake up Chinese exchanges, we need X to gain more judicial authority. Just the US territory alone is far from enough.

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CoffeeNFTrader

· 01-12 03:59

Can't catch the market trend and miss out on gains, this feeling is truly incredible. It's not just X platform that faces licensing bottlenecks, it's the same old trick everywhere. Is doing business in the gray area the only way to make money? That's right, the more compliant, the more restrictions there are. KYC is back again, always this thing blocking the way. More licenses and more regions sound simple, but actually doing it is difficult, brother. To put it plainly, it's still that saying: players and platforms are always cat and mouse. Can compliance and profit really not be achieved at the same time? This logic applies everywhere, not just in crypto. The US market is the best, others can only watch the show.

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