The United States has started checking cryptocurrency exchanges for compliance with the law

The U.S. Securities and Exchange Commission (SEC) has launched an investigation into the possible involvement of crypto exchanges in insider trading. One crypto exchange has received a letter of inspection.

It is not yet known which exchange received the letter, but Binance, Coinbase, FTX, and Crypto.com have already declined to comment. It is also not yet clear which SEC department is conducting the investigation: the Office of Liability Examination or the Office of Enforcement, which often takes companies to court after investigations.

This is not the first high-profile SEC investigation into crypto exchanges. Most recently, the SEC launched an investigation into whether Binance Holdings violated securities regulations when it launched its BNB token in an initial coin offering (ICO) five years ago.