In the new week, a modern element of the cryptographic ecosystem has been hurt. This time, the Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance currency. (BU.S.), a stable loan currency linked to the dollar. Parksos received a termination order from the New York City Financial Services Center (NYDFS).

With no choice, Paxos announced that it would end its partnership with Binance from February 21st to establish a relatively stable Binance for well-known brands linked to the US dollar. All existing US dollar tokens will remain fully applicable and can be redeemed under Paxos Futures until "at least February 2024". Customers can redeem their assets in US dollars and convert their US dollar tokens into another stable loan currency sold by Paxos-Pax Dollar (USDP). In addition, the company is "completely unwilling" to SEC's position that the dollar against the dollar is a security.

From ignoring this issue as "FUD" to calling it an attack on the Binance exchange, password group member BYD has given a variety of basic theories about unregistered securities charges. Password investment analyst Miles Deutscher showed the most obvious doubts-no one is waiting to make a profit in buying smooth individual stocks.

Such a thing may have a profound impact on the stability of the population in general. As BinanceCEO Zhao Changpeng has already hinted, the sector may completely abandon the US dollar as a currency pegged to the US dollar, and then use the Euro, Japanese or Singapore dollars. However, some experts point out that the verification of Paxos is not a direct attack on stable genes, but especially on the protective behavior of Paxos.

SEC sues du Quan and Terraform laboratory fraud

The Securities and Exchange Commission has filed a lawsuit against Terraform Labs and its founder du Quan, accusing them of "orchestrating multibillion-dollar encrypted assets securities fraud". According to the agency, Kwon and Terraform gave and marketed a set of interrelated encrypted asset securities, many of which were carried out in the course of unregistered transactions. Kwon, who is Japanese and is at large at this stage, is said to be in Portugal after he left her residence in Singapore in September 2022 after he issued an arrest warrant in Seoul, South Korea. It is reported that Interpol issued a bright red notice on Quan to law enforcement agencies around the world in late September.

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Russia will launch CBDC pilot among real customers in April

Russian financial institutions are about to launch the first customer pilot of the digital currency (CBDC) of the country's central bank on April 1, 2023. The upcoming CBDC pilot will involve actual operation of real customers in Russia, but will be limited to a certain number of transactions and customers. After the first pilot phase, the Russian Central Bank programme determines how to further expand the size of the data dollar. The news came as some senior Russian officials claimed that Russia's central bank was trying to sell a token with gold as the carrier for cross-border transactions.

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Kansas lawmakers want to limit data encryption to $100 for political and metallurgical donations

There is no doubt that the topic of discussing campaign donations in the form of passwords will arise before the time of the next election cycle in the United States. Even so, Kansas lawmakers are eager to solve these problems early. According to a new law, no one can give or accept more than $100 in password donations to all political candidates in the state's first trial or presidential election. For donations of less than $100, the recipient must immediately convert the password into US dollars, rather than using the password for expenses, not owning assets.

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