Binance made changes to the white paper Binance Coin (BNB) regarding the operational burning of coins. So, the mention that the site allocates 20% of quarterly profit for the re-purchase of BNB and subsequent destruction was deleted from the document. This is reported by The Block.
Changes in BNB Whitepaper
Changphen Zhao said that in fact Binance does not buy tokens on the market, but simply burns BNB [probably from reserves]. In his opinion, the mention of the term “profit” in this part of the document brought the BNB closer to the definition of a security, which the exchange seeks to avoid.
At the same time, the press secretary of Binance stressed that the exchange would continue to burn tokens in an amount equivalent to 20% of the company's quarterly profits.
Nevertheless, according to The Block, a legal expert, it is not enough just to remove any formulations from white paper or replace them so that the regulatory analysis shows that the token is not a security.