SEC Proposes Stricter Scrutiny of Binance Listing Process in Proposed Amended Complaint
Foresight News reports that the U.S. Securities and Exchange Commission (SEC) has filed an amended complaint against Binance, focusing on its token listing process. The SEC, in its proposed document, highlights two issues: BNB secondary market sales and Binance Simple Earn, accusing Binance of operating as an unregistered securities seller. The document states that "BNB as a trading platform token" was offered and sold, with Binance promoting it to investors and touting potential returns to investors through BNB demand and price increases driven by platform growth. BNB burn and its support for projects using BNB also contributed to value appreciation. The document also includes similar supplementary details for Binance Simple Earn and 10 digital assets (SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI).