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BREAKING: SEC Investigating Binance Coin (BNB)


u.today 06 June 2022 20:54, UTC
Reading time: ~2 m

The U.S. Securities and Exchange Commission has reportedly launched an investigation into Binance Coin (BNB), Bloomberg reports. 

The regulatory watchdog wants to determine whether or not the most popular exchange token is an unregistered security.
  
Binance held its initial coin offering (ICO) back in July 2017. The exchange raised a total of $15 million.

The probe is yet to reach any conclusion, according to the report.

BNB remains the fifth-biggest cryptocurrency by market capitalization. The coin is trading at $293 after slipping 4.66% on the news.

In December 2020, the SEC took Ripple to court over allegedly illegal XRP sales.

Last September, the Wall Street Journal reported that the agency had started investigating DeFi kingpin Uniswap.


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