The SEC is investigating Binance over its BNB token | TechBuzz

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The SEC is opening a new investigation vis-à-vis Binance to find out whether or not its BNB token was a security during its ICO in 2017.

The SEC has opened an investigation into Binance to determine whether or not his BNB token was a security at the time of his Initial Coin Offering (ICO) in 2017. BNB coins are mainly used to pay fees on Binance, the largest crypto exchange on the planet today. The company is also facing another investigation by the SEC, launched in February, concerning possible links between its founder and two trading companies. The DOJ, IRS, and CFTC also opened investigations last year for several possible offenses, including insider trading and market manipulation.

The SEC opens a new investigation vis-à-vis Binance

A spokesperson for Binance insisted on repeating that the company “continues to meet all the requirements set by regulators”. In recent years, the SEC has stepped up its crackdown on ICOs that are not declared to the agency before going public. This investigation also investigates whether Binance.US – a subsidiary launched in the United States in 2019 after the latter was banned – is a real separate entity from Binance, based in China.

To find out whether or not his BNB token was a security during his ICO in 2017

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Binance allegedly processed at least $2.35 billion in illegal transactions, drugs, hacks and other fraudulent activities, according to a recently published Reuters investigation. The article also reviews some Binance hacks, notably from the Lazarus group of North Korea. In a blog post, the exchange responded that the article in question was “full of lies,” but when Reuters asked Binance if the platform had indeed taken steps to counter future illegal activity, the exchange remained silent. “We are sorry that Binance declined our interview request,” wrote Reuters’ Angus Berwick.

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