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Binance CEO Changpeng Zhao Questions SEC Investigation Into BNB
The founder of the world's largest crypto exchange stopped short of denying SEC interest in Binance’s exchange token.
AUSTIN, Texas — Binance founder and CEO Changpeng Zhao said the U.S. 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 the SEC is investigating if the BNB token constitutes an unregistered security.
- Zhao 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, he 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 U.S. Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service.
- Zhao also said that while he has a bank account, he doesn’t regularly use it.
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Sam Reynolds
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
