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Binance CEO Confirms: This Altcoin Is In The SEC Terminal!

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Binance CEO Changpeng Zhao (CZ) answered questions regarding the US Securities and Exchange Commission (SEC) investigation. The founder of the cryptocurrency exchange acknowledged the SEC’s interest in the altcoin project token.

Altcoin Binance Coin (BNB) project under investigation by the SEC

The founder of the world’s largest cryptocurrency exchange has stopped rejecting the SEC’s interest in Binance’s exchange token. Binance founder and CEO Changpeng Zhao “CZ” said the US Securities and Exchange Commission (SEC) is “asking questions” about the BNB exchange token. He also noted that the SEC has not yet issued a subpoena for the exchange.

Earlier this month, Bloomberg reported that the SEC is investigating whether the BNB token constitutes an unregistered security. CZ said the SEC regularly asks Consensus 2022 viewers about Binance and its products. He also said the exchange is in regular contact with the authorities.

Altcoin

On the other hand, CZ stated that Binance has not received notice of the subpoena. cryptocurrency.com As we reported, CZ claimed to be in contact only with the SEC. Additionally, the SEC declined to comment on the existence of an investigation, as is its policy.

Separately, Binance is under investigation by the Department of Justice, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service. CZ also said that although he has a bank account, he doesn’t use it regularly.

The SEC investigates whether BNB is a stock

Returning to the history of the exhibition, the chain of events took place as follows. Binance Holdings Ltd.’s cryptocurrency exchange sold digital tokens when it launched five years ago. Subsequently, US regulators began investigating whether Binance had violated the securities rules.

Additionally, the Securities and Exchange Commission review explores the origins of the company and BNB. For those granted anonymity to discuss the undercover investigation, investigators are looking into whether the initial 2017 cryptocurrency offering matched the sale of a stock that should have been registered with the agency.

Altcoin

Meanwhile, Binance is facing multiple investigations in Washington. This is why the initial BNB review is a disturbing development for Binance. The SEC has introduced dozens of enforcement actions on ICOs that involve issuing virtual coins to raise funds. BNB has become a feature of Binance’s vast crypto empire.

Binance has released a statement on the subject. “It would not be appropriate for us to comment on our ongoing conversations with regulatory agencies, including voluntary responses to requests for training, assistance and information,” the statement said. He also said the company is working with the authorities. “We will continue to meet all requirements set by regulatory authorities,” she added.

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