The U.S. Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax Dollar and Binance USD tokens, over the latter. The news comes days after CoinDesk reported Paxos was under investigation by the New York Dep
All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company until at least February 2024, Paxos said.
Crypto company Paxos Trust will stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens.
The recent regulatory action against Binance-branded BUSD stablecoin weighs over BNB token.
Scrutiny on the issuer of the Binance USD stablecoin marks just the latest pressure on Binance's links to the U.S. financial system.
Of all the Securities and Exchange Commission’s actions against crypto entities that have stirred the industry’s ire, the agency’s recent move forcing New York-based Paxos to cease issuing its partner Binance’s BUSD stablecoin is the most deserving of an
Stablecoin issuer Paxos said Monday it would cease creating BUSD tokens, the stabelcoin associated with Binance, following an order from New York's state regulator.
Shares of Silvergate were down more than 50% on Thursday, a move that put the bank's future in question and had companies across the crypto industry seeking to distance themselves from the troubled firm.
The firm will stop issuing BUSD, the world's third-biggest stablecoin, as the SEC reportedly plans to sue Paxos for the sale of unregistered securities.
The stablecoin issuer is currently facing a lawsuit from the SEC in which the financial regulator claimed BUSD was an unregistered security.
According to The Wall Street Journal, the notice relates to Binance USD, which the United States Securities and Exchange Commission is alleging is an unregistered security.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
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Mon,01 Apr 2024