Baby

Baby Doge Coin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-increases-scrutiny-on-binance-amid-market-concerns/" data-wpel-link="internal">SEC Increases Scrutiny on Binance Amid Market Concerns</a> 
The U.S. Securities and Exchange Commission (SEC) has revealed its focus on the major <a href="https://en.coin-turk.com/current-state-of-the-cryptocurrency-market-bitcoin-and-altcoins/" data-wpel-link="internal">cryptocurrency</a> exchange <a href="https://en.coin-turk.com/bitcoin-lightning-network-sees-impressive-growth-on-binance-ranks-14th-in-capacity/" data-wpel-link="internal">Binance</a>, particularly regarding its processes for listing and trading altcoins. This move emphasizes the SEC’s commitment to enforcing stricter regulatory standards in the <a href="https://en.coin-turk.com/comprehensive-and-detailed-6-month-market-report-on-cryptocurrencies/" data-wpel-link="internal">cryptocurrency market</a>, as outlined in a recently submitted amended complaint. Following this significant action, Binance co-founder He Yi made a statement regarding the exchange’s approach to “memecoins.” 
<h2 style="text-align: justify" id="strong-sec-intensifies-pressure-on-binance-strong">SEC Intensifies Pressure on Binance</h2> 
In the amended complaint filed by the SEC, various concerns were highlighted about Binance’s operations, especially concerning how the exchange lists new altcoins and facilitates trades. The U.S. regulator aims to ensure compliance with existing securities laws by focusing on potential issues like market manipulation, fraudulent activities, and inadequate disclosure practices. 
The SEC’s increased scrutiny is viewed as part of a broader initiative to impose more oversight on the cryptocurrency industry. 
<h2 style="text-align: justify" id="strong-binance-co-founder-discusses-memecoin-strategy-strong">Binance Co-Founder Discusses “Memecoin” Strategy</h2> 
Following the SEC’s actions, He Yi made a noteworthy statement. According to blockchain journalist Wu Blockchain, Yi addressed user reactions to the recent listings of Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE), offering clarity on the exchange’s approach to new listings and operational strategies. 
Yi emphasized that Binance does not intend to influence market trends for memecoins, which are known more for their viral popularity than their intrinsic value. Instead, he clarified that Binance categorizes its projects into three types: those designed for airdrops, infrastructure projects backed by venture capital with high Fully Diluted Valuation (FDV), and memecoins. 
The co-founder further explained that the exchange actively identifies and tests projects with low FDVs and dispersed coin assets. This selective approach aims to assess the viability and compliance of projects before they are traded on the platform, thereby ensuring a balanced and secure trading environment for users while mitigating risks associated with lesser-known or potentially highly volatile altcoins. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-389220" src="https://coin-turk.com/wp-content/uploads/2024/09/Binance-He-Yi.png" alt="" width="557" height="207"> 
The post <a href="https://en.coin-turk.com/sec-increases-scrutiny-on-binance-amid-market-concerns/" data-wpel-link="internal">SEC Increases Scrutiny on Binance Amid Market Concerns</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

SEC Increases Scrutiny on Binance Amid Market Concerns

Table of Contents

COINTURK NEWS

Other articles published on Sep 16, 2024

Coinpedia Fintech News

Tether Faces Transparency Issues with its US Dollar Reserves: Report

Bitcoin Nation El Salvador To Shift Focus From Loans In 2025

Industry Leaders to Headline Binance Blockchain Week in Dubai, Speaker Line-Up Announced

Pepe Cuts Rates Solana Memecoin to Surge Over 17,000% Ahead of Exchange Listings, As Shiba Inu an...

Dormant Whale Sells 350 ETH, Reaping Massive 446x Gain

Join our free newsletter for daily crypto updates!