Million Subscriber Analyst: This Altcoin Might Be Delisted!

Altcoin: The US Securities and Exchange Commission (SEC) launched an investigation into an altcoin project last week. According to the SEC, the investigation arose due to a possible chain of securities law violations. Accordingly, the SEC is examining the token of the world’s largest crypto exchange Binance: Binance Coin (BNB). After the event, crypto personalities and analysts started to give predictions about the future of Binance Coin. The most prominent article among these predictions came from the server of Coin Bureau. We have compiled the details for you.

Altcoin could be a victim of delisting in America

A crypto analyst by the nickname Guy recently released a video on the topic of BNB Coin. In his post, the analyst explained the worst-case scenario for BNB to his 2.07 million YouTube subscribers. Accordingly, it is possible that the popular altcoin project will be delisted from Binance.US, the US arm of Binance, this year. Delist means that a cryptocurrency or pair will no longer be traded on an exchange. However, Guy notes that a BNB delist in the US will likely not affect the altcoin’s price. He cites the reason for this as “most of the transaction volume takes place at the international level”:

“In the worst case, it is possible for BNB to be delisted from Binance.US. But most of BNB’s trading volume takes place on the international version of Binance and other exchanges outside the United States. Therefore, delisting is unlikely to have a profound effect. According to the BNB price…”

Binance may fine SEC for BNB Coin

Continuing his words, Guy also stated that Binance may pay the SEC a penalty in dollars. Accordingly, the penalty will be directly proportional to the recent earnings of the world’s largest stock exchange. Binance will pay the penalty to the SEC via the BNB ICO (Initial crypto offering). However, the real issue is different, according to the analyst. Guy says that with this deal, there could be a clause that BNB is a security. He also states that for this reason, there may be an article stating that it cannot be listed on the US stock exchanges. However, the analyst adds that Binance may try to convince the SEC that BNB is no longer a security due to its increased decentralization:

“Alternatively, it is possible that Binance managed to convince the SEC that BNB has been decentralized enough since its early years. Now if Binance tries this, I personally guess they will not be successful. Based on other cases, the SEC definitely doesn’t like the Binance team holding such a large portion of the BNB supply.”

US Senator: These 2 and Most Altcoins Are In SEC's Lens!

AmkNews.com As we reported, the SEC announced earlier this month that they will be investigating Binance. The research aims to determine whether BNB’s first ICO in 2017 violated securities laws.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.