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Nalezeno "Paxos": 225

Former SEC Chief Counsel Says Agency Needs to Make Clear Its Crypto Compliance Rules

14.2.2023
TuongVy Le, a partner and head of regulatory & policy at investment firm Bain Capital, says the agency is refraining from passing a rules-based framework and has to make it clear what digital assets it would deem compliant under its jurisdiction

Stablecoins Are Not New. So Why Are Regulators Attacking Paxos?

14.2.2023

Investors Rush to Tether as Paxos' BUSD Faces Regulatory Heat, Curve Liquidity Pools Show

14.2.2023
Investors are fleeing the Paxos-issued stablecoin even though the firm gave assurances it is fully backed and will be wound down in an orderly manner, one observer said

Binance's Stablecoin Under Fire: Rival Circle Sounds the Alarm to NY Regulators

14.2.2023
Circle, the US-based payments company that issues the stablecoin USD coin (USDC), alleged that major crypto exchange Binance did not fully back some of its own stablecoin proxies - and on Monday, blockchain infrastructure platform Paxos was ordered to cut its connection with Binance in regard...

SEC to target crypto firms operating as 'qualified custodians' — Report

14.2.2023
If a majority of the five-member SEC panel votes in favor of the draft proposal, it will proceed to the next stage, which will be reviewed by other members of the SEC

Stablecoins not the target in BUSD crackdown: Matrixport head of research

14.2.2023
Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos

Binance withdrawals and BUSD redemptions surge post Paxos crackdown

14.2.2023
Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that "Funds are SAFU."

Paxos ‘categorically disagrees’ with the SEC that BUSD is a security

14.2.2023
Paxos said it will engage with the US securities regulator on the matter and is prepared to "vigorously litigate if necessary."

Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange

14.2.2023
Binance has endured some $828 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November, surpassing the withdrawal surge in December amid fears about Binance’s reserves

Circle blew the whistle on Binance reserves to NYDFS: Report

13.2.2023
The company's complaint to the New York regulator reportedly came before the SEC's lawsuit against Paxos over BUSD and NYDFS ordering the firm to "cease minting" the stablecoin

BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert

13.2.2023
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees...

Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security, Says It Will Litigate if Needed

13.2.2023
The stablecoin issuer confirmed it has received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming

Algorand Foundation CEO: SEC’s Crypto Crackdown Highlights Lack of Regulatory Clarity

13.2.2023
Staci Warden says crypto-native firms are being punished rather than given guidance

Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: Bloomberg

13.2.2023
New York’s top financial regulator is investigating stablecoin issuer Paxos – and, according to a new report, it was rival stablecoin issuer Circle that sounded an alarm

Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security

13.2.2023
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD....

SEC Threatens Lawsuit Against Binance BUSD Stablecoin-Issuer Paxos – What’s Going On?

13.2.2023
The Securities and Exchange Commission (SEC) has said it intends to sue Paxos Trust Company, a regulated New York-based firm that issues several popular stablecoins. The threat of a lawsuit from the SEC came in the form of a letter to Paxos. The letter is a so-called Wells notice, used by...