The SEC’s Suit Against Binance Contradicts the Agency’s Core Mission
The Suit Against Binance On June 5, 2023, the SEC announced it was charging Binance Holdings Ltd. with violations of various securities laws. The primary charge was that Binance offered its namesake crypto token, BNB, as an unregistered security. Binance is the world’s largest cryptocurrency exchange, and the announcement caused prices of crypto tokens, including Bitcoin, to plummet. At a glance, the SEC’s aggression against a violator of...