The Moderators of the Coinage Bureau can be seen talking about Binance Coin (BNB) after the Securities and Exchange Commission (SEC) launched an investigation into crypto assets a few days ago for suspected securities law offenses.
Guy, a pseudonymous cryptocurrency expert, informed his 2.07 million subscribers on YouTube in a recent video clip that the worst outcome for BNB is that it will be kicked out of Binance.US at the end of the year.
However, because most BNB trading volume occurs on the international version of Binance and other exchanges beyond the United States, this is unlikely to significantly affect BNB’s pricing.
Binance may pay the SEC a nominal fee for its BNB ICO (Initial Coin Offering), which is cents per dollar compared to exchanges nowadays.
Agreement says BNB is a security
Nevertheless, the host claims that the problem is that the agreement may contain a provision stating that BNB is a security and cannot be traded on US markets.
Guy believes that due to its increasing decentralization, Binance may try to persuade the SEC that BNB is no longer a security.
To prove his idea, he said, on the contrary, Binance could persuade the SEC that, while BNB was a security in its early days, it has grown substantially and has since become decentralized.
So, if Binance is taking this approach, Guy really thinks it will fail. Also, looking at past tests, the SEC dislikes that the Binance team controls a lot of BNB production.
The Securities and Exchange Commission (SEC) said two weeks ago that it would investigate Binance to see whether BNB’s 2017 initial coin offering violated securities laws.