Very limited number of coins only, you are right, why there's no BNB when it's the product of the exchange?
Would this mean that the old Binance set up is better the Binance US because with the old set up, traders has a lot of choices to trade in the altcoins marekt.
Actually, it's not going to be very easy for US Binance to list BNB because of:
I find it a bit weird BNB isn't considered to be somewhere in security territory. It was launched with an ICO and its value hangs on the success of one corporation. I suppose it's not ownership of Binance as such but it's one hell of a long way from something like BTC.
Binance is playing with fire with that one. They burn BNB based on profits made -- lowering the circulating supply -- so it seems like there is indeed an expectation of profits. These are the four metrics of the Howey Test. BNB seems to fit every one:
- It is an investment of money
- There is an expectation of profits from the investment
- The investment of money is in a common enterprise
- Any profit comes from the efforts of a promoter or third party
Arguably, they issued unregistered securities to US persons. I also don't think that's the only area where they have legal exposure to the SEC.