SEC Denies Investigating Binance Over BNB Token – Crypto Times

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Apparently, The Securities and Exchange Commission (SEC) hasn’t investigated global cryptocurrency exchange Binance over the firm’s origin and those of its BNB token.

CoinDesk’s Freedom of Information Act request to the SEC about a subpoena sent to Binance by the SEC in relation to an investigation into the BNB token yielded no responsive documents.

An SEC FOIA officer wrote in the commission’s response “Based on the information you provided in your letter, we conducted a thorough search of the SEC’s various systems of records, but did not locate or identify any information responsive to your request.” 

This shows that there are no documents requiring the company to submit reports to the regulator or its employees to appear for questioning.

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According to one of the Freedom of Information Act exceptions, the SEC may not disclose data on ongoing investigations. However, the regulator usually uses the phrase “can neither confirm nor deny” in such cases.

In June, reports came in saying the SEC is investigating Binance over its BNB token. This was based on if the 2017 Initial Coin Offering of the BNBtoken amounts to the sale of a security. If it was then Binance should’ve registered it with the SEC.

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