We have reached the tipping point in the demand for cryptocurrency regulation. The United States Securities and Exchange Commission is investigating whether Binance (CRYPTO: BNB) broke securities rules when it launched its token in an initial coin offering (ICO) five years ago, Bloomberg reported on Monday. Investigators are examining whether the 2017 ICO amounted to the sale of a security that should have been registered with the agency.
On May 6, Reuters published a lengthy special report alleging that Binance processed at least $2.35 billion of transactions from hacks, investment frauds, and narcotics sales between 2017 and 2021 and had weak Know Your Customer (KYC) and Anti-Money Laundering (AML) protections for those years.
