CFTC says access to US customers 'is a privilege, not a right,' in aggressive case against Binance that is only just getting started

• CFTC says case against Changpeng Zhao and Binance is the beginning of an aggressive pursuit.
• Commissioner Caroline D. Pham said the CFTC has no borders when it comes to prosecuting non-US entities.
• Binance and Zhao to pay $4.3 billion in fines. 

The last couple of years have been tough for the crypto industry and its leading figures.

And it's not likely there will be relief for the sector anytime soon. At least, that's what policymakers are signaling.

This week, Binance chief Changpeng Zhao joined his former industry rival Sam Bankman-Fried in making headlines for charges against him and his crypto exchange, which included breaching US anti-money-laundering laws.