Reporter | Si LinweiThe US investigation into currency security is still ongoing.On June 7th, Bloomberg News reported that the US Securities and Exchange Commission (SEC) is investigating whether the BNB tokens issued by Coin An were securities when sold in 2017
Reporter | Si Linwei
The US investigation into currency security is still ongoing.
On June 7th, Bloomberg News reported that the US Securities and Exchange Commission (SEC) is investigating whether the BNB tokens issued by Coin An were securities when sold in 2017.
In response to this news, Coin An responded to Interface News: "With the rapid development of the industry, we have been actively communicating with law enforcement and regulatory agencies in the United States and internationally, while also complying with new regulatory policies. We will continue to meet all requirements set by regulatory agencies
Bloomberg quoted sources familiar with the matter as saying that the US Securities and Exchange Commission has launched an investigation into BNB tokens. The US securities regulatory authorities are studying the early stages of the exchange and examining whether selling its BNB tokens during the initial token issuance in 2017 constitutes an unregistered securities sale.
Coin An is currently the world's largest cryptocurrency exchange, and BNB is a virtual currency issued by its company. It was issued in 2017 and currently has a single currency quote of $280, ranking fifth in the world in market value.
As one of the strictest regions in the world for cryptocurrency regulation, the SEC is extremely concerned about securities products involving investment attributes, including ICOs. Its current chairman, Gary Gensler, has been openly concerned that the platform may host tokens that can be classified as securities.
However, it is widely known that ICO (virtual token issuance) has always been a highly regulated behavior in the field of virtual currency, with multiple countries including China directly prohibiting ICO issuance.
Coin An's BNB was launched in 2017, and Coin An outlined its plan in a white paper. The document states that its issuance will be limited to 200 million, with half of the tokens sold through ICO, which occurs on multiple platforms worldwide. An additional 80 million will be left to the founding team of Coin An, including CEO Zhao Changpeng. But later, the token rewards belonging to the Coin Security team have been cancelled.
According to its "long arm jurisdiction" tradition, the SEC has the authority to regulate any American resident who participated in the 2017 ICO.
But for Coin An, this is not the first time it has been investigated by US regulatory agencies.
In recent months, Coin Security has faced scrutiny from various regulatory agencies in the United States.
According to reports, the US Securities and Exchange Commission is still investigating the US branch of the exchange, Binance. US, to ensure that it is appropriately distinguished from its global peers. The US Internal Revenue Service and the Department of Justice are also closely monitoring Coin An to gain a deeper understanding of its business. According to reports, the Commodity Futures Trading Commission (CFTC) is also investigating whether Coin An allows US residents to trade on its platform.
The regulatory dynamics regarding currency security will have a close impact on the pattern of the encryption market.
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