Binance, the world’s biggest crypto exchange by trading volume, has been the focus of crypto-market speculation in recent weeks after blockchain watchers detected billions of dollars of deposit outflows, the company’s auditor begged off and reports emerged the company might be under investigation by U.S. authorities.
The BNB token, with a market cap around $40 billion, has failed to win a listing on major U.S. crypto exchanges – except on Binance.US. Crypto analysts say it might be due to risks that BNB could be deemed a security by U.S. regulators.
The risk was underscored last week when the U.S. Securities and Exchange Commission labelled FTX’s FTT token as a security in a complaint.
Some crypto analysts speculate that major U.S. exchanges might have steered clear of a BNB listing for fear of running afoul of regulators. Any issues on the regulatory front could also represent a risk for holders of the token.
(Reporting by Shikha Singh, Editing by Kapil Rajyaguru)
You need to login in order to Like
