Yugocean
Valued Contributor
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are both looking into Binance.
This probe has not been confirmed by Binance or the agency. Bloomberg, on the other hand, has corroborated this based on charges made by the news agency Reuters.
Binance's BNB coin (which was created in 2017 through an ICO), whether BNB was a security at the time of the sale, and whether the sale amounted to an unregistered sale of securities are all under examination.
In January 2019, the phrase "security" was altered from the BNB whitepaper, and Binance.us, Binance's US subsidiary, was founded in the same year.
According to Reuters, between 2017 and 2021, Binance's KYC and AML security was susceptible, and the exchange processed at least $2.35 billion in transactions related to cyberattacks, investment fraud, and drug sales.
The findings were labelled as "unfortunate" and "misinformation" by Binance in a statement to Reuters. Binance, by the way, may not be exempt.
This probe has not been confirmed by Binance or the agency. Bloomberg, on the other hand, has corroborated this based on charges made by the news agency Reuters.
Binance's BNB coin (which was created in 2017 through an ICO), whether BNB was a security at the time of the sale, and whether the sale amounted to an unregistered sale of securities are all under examination.
In January 2019, the phrase "security" was altered from the BNB whitepaper, and Binance.us, Binance's US subsidiary, was founded in the same year.
According to Reuters, between 2017 and 2021, Binance's KYC and AML security was susceptible, and the exchange processed at least $2.35 billion in transactions related to cyberattacks, investment fraud, and drug sales.
The findings were labelled as "unfortunate" and "misinformation" by Binance in a statement to Reuters. Binance, by the way, may not be exempt.
