Heterodox
Yesterday, the SEC issued a Wells notice to the stablecoin issuer Paxos, warning it that the SEC intended to take legal action against it for issuing an unregistered security. The security in question is the fully-reserved stablecoin BUSD (Binance USD), which Paxos issues expressly for use on the Binance crypto exchange. The Wells notice doesn't apply to Paxos's other fully-reserved stablecoin, USDP, which it issues for use on its own platform. A few hours later, the New York Department of...
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