On the evening of May 13th, it was reported that Coin An was facing investigation by the US Department of Justice and the Internal Revenue Service. Binance has previously stated to the public that Binance
On the evening of May 13th, it was reported that Coin An was facing investigation by the US Department of Justice and the Internal Revenue Service. Binance has previously stated to the public that Binance. com does not support transactions with US users, and Binance. us is a compliant licensed and independently operated company in the United States. Coin An did not respond to or deny the authenticity of the investigation itself.
In March, when pointed out to be facing inquiries from the Commodity Futures Trading Commission (CFTC), Coin On responded by mentioning that Coin On did not have derivative services in the United States. The main website of Coin Security has contract and futures products, and at that time, it also responded that it does not support trading by US users.
Coin An stated that it has always attached great importance to compliance and has cooperated fully with regulatory agencies and law enforcement departments around the world; We have been working hard to establish a sound compliance plan, including anti money laundering principles and tools used by financial institutions to detect and handle suspicious activities. Previously, Coin An hired former US Senator Max Bancus as a regulatory advisor, and members of the US Financial Action Task Force (FAFT) joined the consulting team.
After the news was released, Zhao Changpeng, CEO of Coin An, posted an article on social media. When he saw FUD (FearUncertaintyDoubt), please close it. That night, the price of platform currency BNB plummeted, dropping as low as $526, with a 24-hour decline of over 10%. As of 9:00 the next day, BNB prices rebounded to $590.
The German Federal Financial Supervisory Authority (BaFin) has warned investors that trading tokens linked to stocks such as Tesla on the Coin Security platform may violate securities laws. The regulatory agency's announcement states that the tokens issued by Coin An that are linked to Tesla, Coinbase, and MicroStrategy stocks are securities, and such violations are administrative and can result in a fine of 5 million euros or 3% of the issuer's last year's income. According to Coin An, these tokens are supported by actual stocks and their investors do not have voting rights in company affairs.
Recently, Coin An temporarily suspended the withdrawal of coins, citing traffic overload. Coin An was established in July 2017, with founder Zhao Changpeng being OKCoin's former CTO. After the launch of the BSC smart chain by Coin An, the price of platform currency BNB has risen to a historical high of $691.
This article originates from Blue Whale Finance
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