US SEC allegedly notified Paxos of an upcoming lawsuit tied to Binance USD (BUSD)
Join Our Telegram channel to stay up to date on breaking news coverage The US SEC has made a series of drastic moves targeting the crypto sector. First, it announced that unregistered staking is no longer allowed as it now sees it as an unregistered security. Next, it put companies that offer or give crypto advice under a microscope, carefully monitoring each move, ready to react if it believes the advice is deviating from what it considers safe. Another step in the unilateral effort between the @SECGov, @NYDFS and @USOCC to blitz crypto. More Wells notices going out in the coming 2-3 weeks, I’m told. Keep an eye on @JunoFinanceHQ. https://t.co/u4Q3pHN2lH — Eleanor Terrett (@EleanorTerrett) February 13, 2023 Now, new reports coming from people familiar with the matter say that the regulator has sent a Wells Notice to Paxos — a known stablecoin issuer — notifying it of its intention to sue the firm. The SEC has allegedly told Paxos Trust that it vi...