Unchained · Tuesday, August 4, 2026
Carlos Domingo criticizes crypto companies that operate offshore to avoid US regulations, comparing them to failed 'shadow banks' from 2021. He believes this approach is unsustainable and that regulators will eventually catch up to illegal activities.
“You don't do it in the US because you don't want to do it in the US because you don't want to follow US regulations and you don't want to go through the process of getting licenses here.”
“I I do remember in 2021, you might remember this as well when there were all these shadow banks that were saying, oh, you know, we provide yield for your crypto and for your stable coins and that's what banks do, we don't need bank licenses because we're crypto, blah blah blah.”
“And then all of them went bankrupt in some cases CEOs went to jail. Um, so I don't think that this is a long-term sustainable business. Eventually regulators catch up to you when you do something that is illegal.”