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SEC is Investigating Binance

by Chief editor

On Monday, Bloomberg reported that the SEC has launched an investigation into the BNB token. The US securities regulatory Authority is studying the early days of the exchange, finding out whether the sale of its BNB token during the initial coin offering in 2017 was an unregistered sale of securities.

The SEC chairman, Gary Gensler, expressed concern that the platforms could place tokens that could be classified as securities, but his comments focused more on holding exchanges accountable for placing unregistered securities than on the projects themselves, as previous SEC regimes did during the ICO boom.
In recent months, Binance has been subject to scrutiny by various US regulators.

It is reported that the SEC is also studying the American division of the exchange “Binance.US “to make sure it properly differs from its global counterpart. The IRS and the Justice Department are also scrutinizing Binance to gain insight into its business, and the Commodity Futures Trading Commission (CFTC) has reportedly also launched an investigation into whether Binance allows U.S. residents to trade on its platform.

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