SEC opens investigation for the initial coin offering of Binance token
U.S Securities and Exchange Commission opens an investigation to examine the initial coin offering of Binance token, BNB coin in 2017. According to a Bloomberg report, U.S regulators seem adamant about probing the coin’s security, whether it was registered during the sale in 2017 or not. Binance is not the only one, rather many cases have been taken up by the U.S authorities regarding virtual currency securities.
With the rise of cryptocurrencies and blockchain technology in the mainstream, many people have been investing billions of dollars in the industry. To ensure that no one falls under a massive rug pull or scams, U.S. The SEC has been investigating various companies and individuals for various cases.
Binance comes under the SEC radar
Binance is one of the largest crypto exchanges in the world. It was launched in 2017 as DEX and later, in the same year, it dropped its native token, the BNB coin, previously known as the Binance coin, via Initial Coin Offering (ICO).
Originally published athttps://nftstudio24.com/sec-opens-investigation-for-the-initial-coin-offering-of-binance-token/ on June 8, 2022