• bitcoinBitcoin(BTC)$23,992.00-2.63%
  • ethereumEthereum(ETH)$1,896.16-0.18%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$323.41-2.94%
  • rippleXRP(XRP)$0.378856-1.37%
  • cardanoCardano(ADA)$0.53-2.50%
  • polkadotPolkadot(DOT)$9.22-2.90%
  • litecoinLitecoin(LTC)$61.87-1.03%
  • UniswapUniswap(UNI)$9.05-2.51%
  • Home
  • Coins
    • Bitcoin
    • Ethereum
  • Blockchain
  • Regulation
  • Mining
  • Guides
What's Hot

How to earn interest from crypto saving accounts?

August 11, 2022

Ethereum Merge on track as Goerli test merge successfully finalized

August 11, 2022

Looking for gift ideas? Give Cryptocurrency as a present

August 11, 2022
Facebook Twitter Instagram
Facebook
Cryptovot Cryptovot
  • Home
  • Coins
    • Bitcoin
    • Ethereum
  • Blockchain
  • Regulation
  • Mining
  • Guides
Cryptovot Cryptovot
Home»Coins»Bitcoin»Report – Regulation Bitcoin News
Bitcoin

Report – Regulation Bitcoin News

CryptoNewsBy CryptoNewsJune 8, 20223 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
Share
Facebook Twitter LinkedIn Pinterest Email


SEC Probes Binance — BNB Could Be Unregistered Security: Report

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token.

SEC Investigates Binance’s BNB Crypto

The U.S. SEC is investigating whether Binance Holdings Ltd. breached securities laws when it conducted an initial coin offering (ICO) of the BNB token five years ago, Bloomberg reported Monday, citing people familiar with the matter.

If the security watchdog finds that the BNB sale in 2017 was an unregistered security offering, Binance could be put in a similar position as Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token since December 2020. The SEC claims that XRP is a security.

However, an SEC enforcement probe involving BNB is likely months away from any conclusion, one of the people said.

Binance told the news outlet: “it would not be appropriate for us to comment on our ongoing conversations with regulators, which include education, assistance, and voluntary responses to information requests.” However, the company stressed that it will “continue to meet all requirements set by regulators.”

In the U.S., Binance operates under Binance.us. The global crypto exchange clarified that Binance.com and Binance.US “are separate entities.”

Binance.us independently issued a statement, emphasizing that it was “committed to upholding the highest standards of compliance.”

The crypto exchange is facing multiple investigations in Washington, the publication conveyed. Besides investigating possible trading abuses by Binance insiders, the securities regulator is also probing market-making companies tied to Binance CEO Changpeng Zhao (CZ).

BNB is currently the fifth-largest cryptocurrency by market capitalization. At the time of writing, its price is $294.35. The coin fell 11% on Monday when the news of the SEC investigation broke but has since regained some of its losses.

Tags in this story
Binance, bnb, Changpeng Zhao, CZ, Ripple Labs, SEC, SEC binance, Securities, security offering, security token, XRP

What do you think about the SEC probing Binance and BNB? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticlePhilippines Crypto Wallet Service Provider Coins.ph Partners With the PBA – Bitcoin News
Next Article Unity CEO Predicts Websites Will Mutate to Metaverse Destinations Before 2030 – Metaverse Bitcoin News
CryptoNews
  • Website

Related Posts

Looking for gift ideas? Give Cryptocurrency as a present

August 11, 2022

Ethereum Climbs To $1,900, Why $2K Could Be Next

August 11, 2022

Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses

August 10, 2022

Bitcoin Reaches $24K for First Time in August;  Ethereum undergoes The Merge

August 9, 2022

Leave A Reply Cancel Reply

Recent Posts

  • How to earn interest from crypto saving accounts?
  • Ethereum Merge on track as Goerli test merge successfully finalized
  • Looking for gift ideas? Give Cryptocurrency as a present
  • Ethereum Climbs To $1,900, Why $2K Could Be Next
  • Derivatives Protocol DyDX Blocks User Accounts Linked With Sanctioned Ethereum Mixer App Tornado Cash
Don't Miss
Regulation

How to earn interest from crypto saving accounts?

By CryptoNewsAugust 11, 2022

The cryptocurrency industry has offered developers and investors the opportunity to introduce new financial tools…

Ethereum Merge on track as Goerli test merge successfully finalized

August 11, 2022

Looking for gift ideas? Give Cryptocurrency as a present

August 11, 2022

Ethereum Climbs To $1,900, Why $2K Could Be Next

August 11, 2022
About Us
About Us

CryptoVot is a Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi and digital finance news with analysis, pictures, video and live price updates.

Check out our other website:
Newsvot.com
Funnyvot.com
Healthvot.com
Gamesvot.com
Contact us: contact@vot.media

Facebook
  • Home
  • PRIVACY POLICY & CCPA
  • Do not sell my personal information
  • Opt out / Unsubscribe
© 2022 VotMedia

Type above and press Enter to search. Press Esc to cancel.