The United States’ SEC started investigating Binance. The SEC is looking into whether the crypto exchange violated securities laws with its Binance Coin (BNB) initial coin offering (ICO) in 2017. According to reports, the SEC is evaluating whether the BNB ICO should have undergone registration processes. This is not the first time that the exchange has appeared on the radar of authorities. In February 2022, the US SEC probed the exchange’s trading affiliates.
Furthermore, the US Justice Department, the Commodity Futures Trading Commission (CFTC), and the Internal Revenue Service (IRS) are all looking into the exchange as well. In addition, the SEC is also in a long battle with Ripple over its XRP token, with the latter aggressively denying that it broke any securities laws.
There is a huge debate around the compliance of crypto due to the lack of transparency and regulations. However, some centralized exchanges like MultiBank io are compliant and abide by the regulations stated by the local regulatory bodies.
When it comes to MultiBank io crypto exchange platform, compliance is key. This is because the platform is part of MultiBank Group (MultiBank Group has 10+ regulations), which ensures transparency, trustworthiness, and a seamless user experience. Therefore, a compliant environment is in MultiBank io DNA.
MultiBank io is both audited and registered by the Australian Transaction Reports and Analysis Centre (AUSTRAC) and will offer regulated crypto spot trading through its Australian division “MEX Digital Pty Ltd” which is regulated by the Australian Securities & Investments Commission (ASIC).