Binance CEO Changpeng Zhao Questions SEC Investigation into BNB

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AUSTIN, Texas — Binance founder and CEO Changpeng Zhao said the U.S. Securities and Exchange Commission (SEC) has been “asking questions” about the BNB exchange token but the exchange hasn’t yet been subpoenaed.

• Earlier this month, Bloomberg reported the SEC is investigating if the BNB token constitutes an unregistered security.

• Zhao told the audience at CoinDesk's Consensus 2022 that the SEC regularly asks questions about Binance and its products, and the exchange is in regular contact with authorities.

• On stage, he did not say that Binance has been subpoenaed but is merely in contact with SEC.

• The SEC has declined to comment about the presence of a probe, as is its policy.

• Separately, Binance is under investigation by the U.S. Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service.

• Zhao also said that while he has a bank account, he doesn’t regularly use it.