Is Binance Coin (BNB) a security? CEO responds to the claims 24038
News
Pinaz Kazi
Sep 26, 2018 at 5:26 PM

During a recent interview, Binance CEO Changpeng Zhao shared how he came into Binance and the whole crypto space as such, how he & his team handled the rapid growth of the exchange, and whether Binance coin (BNB) is a security.

While speaking with Unchained, Zhao was told by the interviewer that Binance Coin (BNB) more or less fits the definition of security. Zhao laughed in response and said, “I laughed because I think, that's a very subjective view of what things are, and I appreciate that's your view…not my view to be honest and probably not shared by most of the community”.

However, the interviewer said that it wasn't just her personal opinion and that multiple sources have told her that they viewed the coin as a security token. Zhao countered this statement by saying that just because most of the people around the world have a view, it doesn't mean that they should agree to it. “There's no legal definition that a certain coin…at least, Binance Coin (BNB) is not found legally as a security,” Zhao noted.

He went on to say that many people may not have the same view, calling it a mere “difference in opinion”. “But, it is definitely not classified legally or anywhere, as far as I know,” he added.

According to him, even if it was classified legally as a security in some countries, it would probably be classified differently in other countries. Moreover, he stated that the whole discussion of whether a crypto is a security or not only came some six months back, before which there was no such discussion.

However, the interviewer responded by saying that she had discussed this issue with multiple people since mid-2016,. Zhao then mentioned, “So far, no one has told us that BNB is a security, other than yourself. Maybe you’re taking a very US-centric view,” to which the interviewer agreed.

See also:

Attorney General’s report implies Binance, Kraken might be violating New York crypto laws

Binance to open fiat-crypto exchange in Singapore

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