Coin Bureau Speculates Worst-Case Scenario For Binance Coin (BNB) Amidst SEC Inquiry

The post Coin Bureau Speculates Worst-Case Scenario For Binance Coin (BNB) Amidst SEC Inquiry appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The moderator at Coin Bureau is seen talking about what may unfold regarding Binance Coin (BNB) after the Securities and Exchange Commission (SEC) started an inquiry into the crypto asset a few days before for suspected securities law offenses.

Guy, a pseudonymous crypto expert, informs his 2.07 million Subscribers on youtube in a recent video clip that the worst outcome for BNB is that it would be excluded from Binance.US at the year-end.

However, because most BNB trading volume occurs on the international edition of Binance and other exchanges beyond the United States, it’s unlikely to impact BNB’s pricing significantly.

Binance may pay a minor fee to the SEC for its BNB ICO (initial coin offering), which is cents on the dollar compared to how well the exchange makes nowadays.

Agreement Says BNB Is A Security

Yet, the host asserts that the problem is that this agreement might include a provision stating that BNB is security and cannot be traded on US markets.

Guy believes that because of its rising decentralization, Binance may try to persuade the SEC that BNB is no longer a security.

To prove his thought, he says, conversely, Binance might persuade the SEC that, while BNB was a security in the initial days, it has subsequently evolved sufficiently and has decentralized since.

Therefore, if this is the approach Binance is taking, Guy truly thinks it will fail. Moreover, going by past trials, the SEC dislikes that the Binance team controls far too much of the BNB production.

The Securities and Exchange Commission (SEC) said two weeks ago that it would investigate Binance to see if the 2017 initial coin offering of BNB violated securities laws.

Related posts

‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

Singapore police warn investors against FTX phishing scams: Report

Solidus Ai Tech Announces New Partnership With Metaverse Giants Galaxy Arena

Generated by Feedzy