Here’s What’s Ahead for Binance Coin (BNB) in 2022, According to Coin Bureau
The host of Coin Bureau is speculating on what could happen to Binance Coin (BNB) after the U.S. Securities and Exchange Commission (SEC) launched an investigation into the crypto asset last week over possible violations of securities law.
In a new video update, the pseudonymous crypto analyst known as Guy tells his 2.07 million YouTube subscribers that the worst-case scenario for BNB would be that it could get delisted from Binance.US this year.
However, Guy notes that a delisting in the US likely wouldn’t affect the token’s price that much as most of its trading volume takes place internationally.
“In the worst case, it’s possible that BNB could get delisted from Binance US, but given that most of BNB’s trading volume is taking place on the international version of Binance and other exchanges outside of the United States, it’s unlikely to have a profound effect on BNB’s price…
It’s possible Binance simply pays a small fine to the SEC over its BNB ICO (initial coin offering) which is pennies on the dollar relative to how much the exchange is making these days. The thing is that this settlement could come with a clause that BNB is a security and can’t be listed on US exchanges.”
Guy says that Binance may attempt to convince the SEC that BNB is no longer a security due to its increasing decentralization.
“Alternatively, Binance could succeed in convincing the SEC that although BNB was a security in its early years, it has since become sufficiently decentralized…
Now if this is the route that Binance is going down, then I personally think it won’t succeed. Based on other cases, the SEC definitely doesn’t like the fact that the Binance team holds so much of BNB’s supply.”
The SEC announced earlier this month that they would be investigating Binance to determine whether the 2017 initial coin offering of BNB was in violation of securities laws.
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The post Here’s What’s Ahead for Binance Coin (BNB) in 2022, According to Coin Bureau appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
