Binance CEO Changpeng Zhao Questions SEC Investigation into BNB

Binance founder and CEO Changpeng “CZ” Zhao said the Securities and Exchange Commission (SEC) has been “asking questions” about the BNB exchange token but the exchange hasn’t yet been subpoenaed.

• Earlier this month, Bloomberg reported that the SEC is investigating if the BNB token constitutes an unregistered security.
• CZ told the audience at CoinDesk’s Consensus 2022 that the SEC regularly asks questions about Binance and its products, and the exchange is in regular contact with authorities.
• On stage, CZ did not say that Binance has been subpoenaed but is merely in contact with SEC.
• The SEC has declined to comment about the presence of a probe, as is its policy.
• Separately, Binance is under investigation by the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service.
• CZ also said that while he has a bank account, he doesn’t regularly use it.