FAQs
What is the SEC v Binance complaint? ›
The SEC brought negligence-based misrepresentation claims against BAM Trading and BAM Management for allegedly misleading Binance.US customers and equity investors in BAM Management regarding Binance.US trading volume and about internal controls designed to detect and prevent so-called wash trading.
Is BNB a security? ›July 7, 2024
In a landmark decision, a federal judge has ruled that the BNB token, the native cryptocurrency of Binance, is not considered a security.
The Securities and Exchange Commission on Friday sued Consensys in federal court in Brooklyn, New York, over allegations that the company “engaged in the offer and sale of securities” and “acted as an unregistered broker” through its digital asset wallet called MetaMask.
How do I claim against Binance? ›Prepare the lawsuit using the proper form, this is usually available for download on your local small claims court website. The court will want to know why you are suing Binance, how much are you suing Binance for, and finally how you calculated the amount you are suing Binance for.
Is Binance safe in 2024? ›No cryptocurrency exchange can guarantee 100% safety, but Binance has implemented several measures to protect users' assets, such as a $1 billion insurance fund, comprehensive account security and asset audits. However, users should always do due diligence when deciding to open an account on any crypto platform.
Is there a problem with Binance right now? ›User reports indicate no current problems at Binance.
Who is behind BNB? ›The founder of Binance Coin is Changpeng Zhao, commonly known as CZ. He is the founder and CEO of Binance, one of the largest cryptocurrency exchanges in the world. CZ is considered a key player in the crypto industry.
What does Binance.US report to the IRS? ›Binance US uses Form 1099-MISC to report miscellaneous ordinary income to the IRS. The crypto-specific edition of the 1099-MISC is used to report the gross income of traders who receive cryptocurrency rewards or engage in staking.
What are SEC complaints? ›The SEC encourages reporting of any potential violation of securities laws, which may include actions such as: Operation of a Ponzi scheme. Providing misleading or incomplete stock information. Theft or embezzlement. Manipulating a stock's price or volume.
What is the lawsuit against XRP and the SEC? ›This decision comes years after the SEC first filed its complaint against Ripple in December 2020. Ripple secured a partial victory in July 2023, with the court ruling that only institutional sales of the XRP token, not programmatic sales to retail investors, were unregistered securities offerings.
What's going on with Binance? ›
Binance Recent News. Binance (CRYPTO: BNB), the world's largest cryptocurrency exchange, is facing scrutiny over accusations of confiscating Palestinian cryptocurrency funds, reportedly at the behest of Israel.
