According to attorney, SEC will sue Tether and Binance Coin
According to experts, the SEC case against XRP is just the beginning and Tether and Binance Coin could be the next prosecuted. The allegations are from US Attorney Jeremy Hogan. According to him, stablecoin Tether could be the regulator’s new target for misleading the market about the USDT’s backing.
In fact, New York state authorities have already found cryptocurrency issuers guilty in a legal battle. At the time, Tether was fined $18.5 million after a settlement.
Now, Hogan says the likelihood that the company will be targeted by the SEC is 90 percent.
“In 2017, Bitfinex and Tether misled the market about Tether’s US dollar support. And this Settlement is from the New York Attorney General’s office. I would say that, on a risk scale from zero to ten, the rating is nine.”
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Based on this, Binance Coin (BNB) would also be in danger. According to the lawyer, the probability of Binance’s utility token being targeted by the SEC is 85%:
“So there was an investment of money to build and upgrade the platform. There is a common venture in which Binance is actively involved in currency promotion and value enhancement.”