The first thing to clarify before entering the issue fully is that on June 5, 2023, the legal battle between the US Securities and Exchange Commission (SEC) and Binance began.
As reported by Cryptonotics, the creatures Gary Gensler was targeted at that point He filed a lawsuit against Binance, the world’s largest exchange. Also, for Binance.usa US subsidiary (operated as an independent company). and to Changpeng Zhao (CZ), the founder of the business conglomerate.
In a judicial presentation, the SEC alleged that these companies “violated federal law through illegal offers and sales of values not registered with US investors.”
Regulators denounced the market for binance and binance Dozens of cryptocurrencies classified as value titles (securities)) Therefore, sales in the US were prohibited.
With Gary Gensler’s departure from the SEC and the arrival of Donald Trump in power, the US government has changed its approach to the cryptocurrency industry. Instead of a persecution position, it is now seeking to establish a clear regulatory framework to promote sector growth.
In this regard, on February 10th, parties involved in judicial litigation They agreed to a 60-day suspension in their legal case.temporarily stop all steps.
One of the main reasons for this suspension is the creation of a working group on Cryptocurrency from the SEC.
The specifics are that Binance.us has been increasing its market share since February. Kaiko’s investigation report states, “Is binance.us ready for returns?”
“Since the beginning of February, Binance.US has grown at the end of the months that have increased in market share after the SEC stopped demand for the platform and continues during the cryptocurrency recovery in November.
As you can see in the graph below, the volume remains at around $2,000 million per day, but that’s a sign “It clearly benefits from the improved regulatory environment.”
Redline represents the date when demand for the SEC entered a halt, and the Dollar Entry and Exit service, which was suspended in June 2023, has resumed.
In this way, binance. The US will begin to recover from the fierce blow that demand opposes the SEC. That’s at the time It has become the third largest cryptocurrency exchange in the United States.
According to Coingcko data, he currently ranks eighth in world volumes around the world.
In this regard, Kaiko’s research analysts point out: “It fell from an average of $144,000 million in early 2023 to less than $2,000 million, with the number of active market creators on the platform falling from 20 to five, and the platform adopted a cryptocurrency-only model after losing its major bank partners.
If this growth continues, then BNB, Native tokens for BNB Chain Networks developed by Binance benefit. At the time of publishing this memo, its price is $632.
As Binance.us recovers lost land, exposure to the Binance ecosystem will grow in the largest financial markets in the US, driving demand and its prices for BNB.
In short, if Binance or its subsidiaries expand their existence in the United States, It is logical that BNBs tend to be highly valued as their demand grows with ecological impacts worldwide.
For practical purposes (although not legal or regulatory), BNB is considered by investors as a type of “stock market behavior” in the vinance ecosystem. As Binance is on track and expands to new markets, BNB tends to rise.
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