{"id":29109,"date":"2022-06-07T02:13:57","date_gmt":"2022-06-07T06:13:57","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29109"},"modified":"2022-06-07T02:14:27","modified_gmt":"2022-06-07T06:14:27","slug":"u-s-sec-begins-investigation-into-the-2017-sale-of-binance-coin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/u-s-sec-begins-investigation-into-the-2017-sale-of-binance-coin\/","title":{"rendered":"U.S. SEC Begins Investigation Into The 2017-Sale of Binance Coin"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-a-report-gathers-that-sec-is-investigating-binance-coin-over-some-money-laundering-issues-and-businesses-related-to-binance-ceo-changpeng-zhao\">A report gathers that SEC is investigating Binance Coin over some money laundering issues and businesses related to <a href=\"https:\/\/coinscreed.com\/staging\/binance-to-partner-with-mx-global-plans-to-go-global-by-going-local.html\">Binance<\/a> CEO Changpeng Zhao.<\/h5>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" data-id=\"29111\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-1024x683.jpg\" alt=\"\" class=\"wp-image-29111\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-1024x683.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-300x200.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-768x512.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-150x100.jpg 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-750x500.jpg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-1140x760.jpg 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>Binance Coin (<a href=\"https:\/\/coinscreed.com\/staging\/the-right-time-to-buy-binance-coin-as-bnb-sets-to-go-bullish.html\">BNB<\/a>), the world's fifth-largest cryptocurrency is now being investigated by the Securities and Exchange Commission (SEC) in the United States. After a five-year wait, the Securities and Exchange Commission has launched an investigation into whether Binance violated securities laws with its 2017 BNB token sale.<\/p>\n\n\n\n<p>After Ripple (<a href=\"https:\/\/coinscreed.com\/staging\/ripple-eyes-initial-public-offering-ipo-than-replacing-swift.html\">XRP<\/a>), this is the second major cryptocurrency to be scrutinized by the SEC. This could be a worrying development for Binance, which is already facing major regulatory challenges around the world, including in the United States. The SEC in the United States has been eager to bring enforcement actions against some popular ICOs for raising funds. Binance <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-06\/us-probes-binance-over-token-that-is-now-world-s-fifth-largest\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">said<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> in a statement to Bloomberg:<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>&#8220;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.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n<p>The cryptocurrency exchange went on to say that it will continue to work with authorities and that &#8220;we will continue to meet all requirements set by regulators.&#8221; The BNB cryptocurrency is currently trading 7% lower at $285 with a market cap of $46.7 billion.<\/p>\n\n\n\n<p>Binance, a cryptocurrency exchange, has been dealing with regulatory issues in the United States. Aside from the SEC, the Commodity Futures Trading Commission (<a href=\"https:\/\/en.m.wikipedia.org\/wiki\/Commodity_Futures_Trading_Commission\" target=\"_blank\" rel=\"noreferrer noopener\">CFTC<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a>), the Internal Revenue Service (IRS), and the Justice Department are all looking into the world's largest cryptocurrency exchange.<\/p>\n\n\n\n<p>According to a recent report, the crypto exchange allegedly assisted a $2.35 billion money-laundering scheme. According to sources, the recent SEC investigation may not result in the securities regulator suing the company. However, it could take years of court trials and the fate of Ripple before reaching a decision. One of the sources also mentioned:<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>&#8220;Beyond BNB, the SEC is also probing possible trading abuses by Binance insiders and whether Binance.US, an American affiliate formed in 2019, is appropriately hived off from its global counterpart.&#8221;<\/p><\/blockquote><\/figure>\n\n\n\n<p>According to one of the sources, the SEC is also looking into market-making firms associated with its CEO Changpeng Zhao. The SEC is investigating Zhao's ownership stakes in Binance U.S. market makers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report gathers that SEC is investigating Binance Coin over some money laundering issues and businesses related to Binance CEO Changpeng Zhao. Binance Coin (BNB), the world&#8217;s fifth-largest cryptocurrency is now being investigated by the Securities and Exchange Commission (SEC) in the United States. After a five-year wait, the Securities and Exchange Commission has launched [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":29112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[],"class_list":["post-29109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/CTK6IKKCQJJQVEKALADGOFH6BM-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29109"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29112"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}