The SEC launched an investigation into insider trading on crypto exchanges

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The U.S. Securities and Exchange Commission (SEC) has begun studying the measuresprotecting U.S. cryptocurrency exchanges from insider trading, questioning the legality of such a business.

Fox Business journalist Eleanor Terrett reported on Twitter that, according to her sources, the SEC has sent letters to several crypto exchanges to obtain comprehensive information about their measures to protect investors frominsider trading.

After accusations of insider trading were made in the crypto industry, SEC Chair Gary Gensler(Gary Gensler) criticized crypto exchanges for exploiting their position and trading against customers.It is assumed that the collection of up-to-date information on current protection measures anticipatesThe regulator's intention to introduce additional rules to protect investors.

The SEC criticized the activities of the world's largest cryptocurrency exchange, Binance.In February 2022, the commission investigated the connection of the American division of the exchange with two market makers and regular customers, trading companies Sigma Chain and Merit Peak.According to SEC experts, these companies enjoyed special preferences when working with Binance.US.

In early June, the SEC initiated a review of Binance regarding the sale of the exchange's own BNB tokens in 2017 to see if it was an unregistered securities trade.