Binance founder and CEO Changpeng “CZ” Zhao said the Securities and Exchange Commission (SEC) has questioned the BNB token but the exchange has yet to be subpoenaed.
- Earlier this month, Bloomberg reported that the SEC is investigating whether BNB is eligible to constitute an unregistered Securities category.
- CZ told an audience at CoinDesk’s Consensus 2022 Conference that the SEC regularly questions Binance and its products, and the exchange regularly contacts authorities.
- On stage, CZ did not say that Binance had been subpoenaed, but was only talking to the SEC.
- The SEC declined to comment on the existence of an investigation, whose policy is mandatory.
- In addition, Binance is being investigated by the Department of Justice, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service.
- CZ also said that although he has a bank account, he doesn’t use it very often.
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