Binance CEO Changpeng Zhao (CZ) answers questions regarding the US Securities and Exchange Commission (SEC) investigation. The founder of the crypto exchange acknowledged the SEC’s interest in the altcoin project’s token.
Altcoin project Binance Coin (BNB), under SEC investigation
The founder of the world’s largest crypto exchange has stopped rejecting the SEC’s interest in Binance’s exchange token. Binance founder and CEO Changpeng Zhao ‘CZ’ stated that the US Securities and Exchange Commission (SEC) is ‘asking questions’ about the BNB exchange token. He also noted that the SEC has not yet issued a subpoena for the exchange.
Earlier this month, Bloomberg reported that the SEC is investigating whether the BNB token constitutes an unregistered security. CZ said the SEC regularly asks viewers at Consensus 2022 about Binance and its products. He also stated that the exchange is in regular contact with the authorities.
On the other hand, CZ stated that Binance has not received notice of the subpoena. As we reported Kriptokoin.com , CZ said they are only in contact with the SEC. Also, the SEC declined to comment on the existence of an investigation, as is its policy.
Separately, Binance is under investigation by the Department of Justice, the Commodity Futures Trading Commission (CFTC), and the Internal Revenue Service. CZ also said that although he has a bank account, he does not use it regularly.
