Paxos ordered to cease minting Binance stablecoin by New York regulator
Monday that the SEC would argue that Paxos' BUSD product was a security, an approach it has employed with other crypto firms including Gemini, Genesis, and Kraken.
The spokesperson also said, "We will engage with the SEC staff on this issue and are prepared to vigorously litigate if necessary."Paxos' BUSD product is built on the Ethereum blockchain and backed one-to-one by U.S. Treasuries and Treasury Reverse Repurchase Agreements, with Paxos reporting some $16 billion in holdings as of Jan. 31. Paxos' BUSD product is related to, but separate from, Binance's self-issued Binance-pegged BUSD.
"The Department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos," NYDFS said.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
SEC plans to sue crypto firm Paxos over Binance tokenThe Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws,...
Les mer »
Crypto Update | SEC Sues Paxos, Binance’s BUSD DepegsListen to this episode from Markets Daily Crypto Roundup on Spotify. With bitcoin testing $20K in wake of the second week of the SEC’s attack on crypto, plus a look at Bitcoin’s information symmetry, CoinDesk’s “Markets Daily” is back with the latest news roundup.Today's Stories...Read the full show notes here.Featured Story: Bitcoin, Markets and the Symmetry of Information-Join CoinDesk’s Consensus 2023 - the most important conversation in crypto and Web3 - happening April 26 through 28 in Austin, Texas. Consensus is the industry’s only event bringing together all sides of crypto, Web3 and the metaverse. Immerse yourself in all that blockchain technology has to offer creators, builders, founders, brand leaders, entrepreneurs and more! Use code MARKETSDAILY to get 15% off your pass. Visit consensus.coindesk.com or check the link in the show notes.-This episode was edited & produced by Adrian Blust with original music by Doc Blust & Colin Mealey.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacydo-not-sell-my-info.
Les mer »
Breaking: Paxos to face SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission has alleged that Binance USD is an unregistered security, and is planning to sue Paxos over the issuing or listing of the coin.
Les mer »
Breaking: Paxos facing SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission reportedly plans to sue Paxos over its issuance of Binance USD, alleging that the stablecoin is an unregistered security.
Les mer »