The exchange is still physically registered in the US, similar to how non US citizens can place trades on NYSE etc. This cowboy market is madness and irresponsible.
But the crux is that those trades didn't occur on Coinbase, the assets hadn't even been listed yet. So it might very well be a case of a non-us citizen trading on a non-us exchange (or defi exchange). What can the SEC do in this case?
