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.

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dario Lo Presti/lassedesignen

Leave a Reply

Your email address will not be published. Required fields are marked *