CryptoWallCity vs MEXC Exchange

Binance under SEC investigation for 2017 ICO listing

Binance was investigated by the SEC

US regulators are reportedly vetting Binance for Initial Coin Offering (ICO) events in 2017, adding to the pressure on the struggling exchange that is currently facing accusations of facilitating Billions of illegal coins have been traded in recent years.

The world’s largest cryptocurrency exchange by trading volume is now under the radar of the Securities and Exchange Commission (SEC) over allegations that it may have failed to register its tokens with the agency. this office. The agency is determining whether a possible violation of US securities laws has occurred.

Bloomberg first reported the news on Monday citing people close to the matter who wished to remain anonymous due to the fact that the ICO investigation was a secret. The Blockworks attempted to contact the SEC but received no reply at the time of writing.

The SEC is also reportedly looking into market-making firms that have contacts with Binance CEO Changpeng “CZ” Zhao, whose market makers’ ownership shares on Binance.US have attracted regulatory interest, Bloomberg reported. Binance.US and Binance are separate entities.

“We have worked very hard to educate and support regulators and law enforcement in the US and internationally,” a Binance spokesperson told Blockworks while not directly commenting on the matter. investigation. “We will continue to meet all requirements set forth by regulators.”

Public ICO is a popular method of crowdfunding over the years designed to raise funds for budding cryptocurrency projects and ecosystems. However, it fell out of favor because of legal uncertainty.

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