BingX's Iran move sparks security worries

The recurring events of centralized platforms defying regulations is enough to put every crypto enthusiast on his toes. Most users are seen ignoring obvious inklings that threaten the security of their assets.

Just today, there's been news of BingX aiding Iran with Crypto services without KYC. The platform gives Iranians latitude to buy and sell cryptocurrency with its RIAL fiat which is pegged to the Tether. Similarly, they can sign up on there with their local phone numbers.

With this move by the platform, one could conjecture that regulatory inquest from the US and SEC might follow considering the latest SEC vs Kucoin AML case and more...

With all of these going on, BingX users are bound to be apprehensive thus creating optimism and speculation within them with respect to asset security. While the CEX's stance may raise questions and concerns, it's important to consider the complexities of the situation and acknowledge the potential motivations behind their decision.

What are your thoughts on this?