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Ethereum World News
2023-02-13 10:30:58

SEC Targets Binance Stablecoin, Paxos To Stop Minting BUSD

SEC Targets Binance Stablecoin, Paxos To Stop Minting BUSD

Summary: Paxos was ordered to stop minting Binance USD (BUSD) by the New York Department of Financial Services. The order coincided with the SEC’s plans to sue Paxos for selling unregistered securities in BUSD. CEO of the crypto exchange, Changpeng Zhao, noted that his company would review other projects to protect users from “undue harm”. The news came just days after the SEC clamped down on Kraken crypto exchange over its staking services in the U.S. Paxos was ordered to

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