Binance CEO Responds to SEC Investigation
Binance CEO, Changpeng “CZ” Zhao has finally commented on the SEC investigation saying the SEC has been asking questions about BNB but they haven’t been subpoenaed.
By Anna B Kiwanuka
The Securities and Exchange Commission (SEC) has recently been investigating Binance, questioning the origins of the exchange’s Binance Coin (BNB) for possible securities law breaches. It all began with Bloomberg releasing a report on the SEC investigating the BNB token for doubt whether it was sold as a security in 2017.
While Binance declined to comment on this last week, Binance founder and CEO Changpeng “CZ” Zhao finally spoke at CoinDesk’s Consensus 2022 responding to the Securities and Exchange Commission and the stories revolving around it.
He responded saying that the exchange had not yet been subpoenaed. He continued stating that he is unclear about what the media knows about the current situation with the SEC however, Binance is collaborating with the regulatory bodies.
CZ also mentioned that Binance doesn’t believe that BNB is a security.
“We strongly believe that BNB is not a security.” He said
He also added that they have very strong legal opinions to back that claim.