Binance founder and CEO Changpeng « CZ » Zhao said the Securities and Exchange Commission (SEC) has been “asking questions” about the BNB exchange token but the exchange hasn’t yet been subpoenaed.
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Earlier this month, Bloomberg reported that the SEC is investigating if the BNB token constitutes an unregistered security.
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CZ 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.
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On stage, CZ did not say that Binance has been subpoenaed but is merely in contact with SEC.
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The SEC has declined to comment about the presence of a probe, as is its policy.
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Separately, Binance is under investigation by the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service.
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CZ also said that while he has a bank account, he doesn’t regularly use it.