SEC is investigating Binance over its BNB token

The SEC has reportedly opened an investigation into Binance to find out whether its BNB token was an unregistered security during its 2017 initial coin offering, reported Bloomberg. BNB coins are primarily used to pay transaction fees on Binance, currently the word's largest crypto exchange. The company is also facing another, separate SEC probe -- launched in February -- into alleged ties between its founder and two trading firms. The DOJ, IRS and CFTC also opened investigations last year into ...