While regulation and licensing are often used interchangeably, they have contrasting notions. Nevertheless, both processes confirm that the crypto exchange would not compromise its trustworthiness no matter the situation. Regulation applies to a more general setting, while licensing tends to specificities, such as a region or jurisdiction. A good example is Binance. Binance.US is a licensed crypto trading platform, while Binance Global suffers a huge blow with regulation.  This means that Binance.US’s license allows it to operate in the US alone because it conforms to the country’s regulatory concerns over virtual currencies. But that doesn’t mean that anyone worldwide cannot still use the Binance.US. Jurisdictional law is the only determining factor regardless.