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Cryptoknowmics
2023-02-13 06:16:56

SEC to Sue Crypto Firm Paxos Over Binance USD Token

SEC to Sue Crypto Firm Paxos Over Binance USD Token

The SEC has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws. The SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action. The SEC notice alleges that Binance USD, a digital asset that Paxos issues and lists, is unregistered security. What Is Behind SEC Lawsuit Against Paxos? BUSD is a Binance-branded stablecoin pegged to the dollar on a one-to-one ratio. Binance and Paxos announced the partnership to launch in 2019. The Paxos-run digital The post SEC to Sue Crypto Firm Paxos Over Binance USD Token appeared first on Cryptoknowmics-Crypto News and Media Platform .

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