Binance Sees Big Drop in Bitcoin Trading Volume Amid SEC Scrutiny
Binance, the world’s largest cryptocurrency exchange, has seen a drop in the amount of Bitcoin (BTC) trading volume, likely due to increased scrutiny from the US Securities and Exchange Commission (SEC). According to data compiled by CoinMarketCap, the amount of BTC traded on Binance has dropped over the past month, with the average daily trading volume falling from approximately $2.2 billion in October to $1.2 billion in November. This follows reports that the SEC has been increasing its scrutiny of the exchange and ordering it to disclose information on its operations. Binance has yet to comment on the reports, and it is unclear whether or not the SEC’s action has had an impact on its trading volumes.