Crypto exchanges located outside the U.S. have maneuvered to avoid being subject to rules by U.S. financial regulators and law enforcement agencies, as I described last week. Now, we have one more data point to add to that conversation: A New York judge rejected Bitfinex’s claim that the New York attorney general’s office, which is investigating the company, lacks jurisdiction over it.

Binance is another crypto company that has tried to avoid brushes with U.S. officials. The Malta-based exchange’s success establishing itself in crypto-friendly jurisdictions could help it with a new plan to launch a regional competitor to Libra, which is confronting resistance from U.S. regulators and lawmakers. Taking on Facebook is a bold idea for a company barely two years old, but it might be able to gain a foothold in certain countries before Libra does.