The Latest Front in the Crypto Wars Is Binance-Paxos and BUSD
Paxos announced it will cease issuing BUSD after action by the NYDFS.
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Feb 13, 2023 at 10:25 p.m. UTC
Feb 13, 2023
NYDFS
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Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security, Says It Will Litigate if Needed
The stablecoin issuer confirmed it has received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming.
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Feb 13, 2023 at 9:14 p.m. UTC
Feb 13, 2023
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Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just af...
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Feb 13, 2023 at 8:35 p.m. UTC
Feb 13, 2023
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Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: Bloomberg
The report comes amid mounting regulatory concerns for Paxos.
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Feb 13, 2023 at 7:38 p.m. UTC
Feb 13, 2023
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Binance USD's $16B Market Cap Up for Grabs as Paxos Regulatory Action Stirs Up Stablecoin Rivalry
Tether’s USDT stablecoin will likely be a big winner as Paxos stops issuing Binance USD stablecoin after being sued by the top U.S. securities watchdog.
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Feb 13, 2023 at 7:34 p.m. UTC
Feb 13, 2023
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Regulator NYDFS Says Paxos Didn't Administer Binance USD in 'Safe and Sound' Manner: Reuters
The New York regulator said Paxos’ management of the stablecoin left it open to use by bad actors.
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Feb 13, 2023 at 4:02 p.m. UTC
Feb 13, 2023
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SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ
Paxos also faces a probe from the New York Department of Financial Services.
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Feb 13, 2023 at 12:23 a.m. UTC
Feb 13, 2023
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Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
The New York Department of Financial Services (NYDFS) is investigating stablecoin issuer Paxos, CoinDesk has learned. The full scope of the investigation is unclear. CoinDesk...
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Feb 10, 2023 at 4:35 p.m. UTC
Feb 10, 2023
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
The scope of the crypto-related investigation is not yet clear.
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Feb 9, 2023 at 8:53 p.m. UTC
Feb 9, 2023
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Gemini Customers Given Confusing Information About Whether Earn Accounts Were FDIC Insured: Report
Cryptocurrency exchange Gemini reportedly implied to customers that their assets in its interesting-bearing Earn product were safe because they were backed by the Federal Depo...
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Jan 30, 2023 at 10:02 p.m. UTC
Jan 30, 2023