Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Paxos said it will engage with the US securities regulator on the matter and is prepared to “vigorously litigate if necessary.” Go to Source Powered by WPeMatico
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Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its … Read more
Paxos to stop minting BUSD stablecoins for Binance
All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company by at least February 2024, Paxos said. Go to Source Powered by WPeMatico
Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold … Read more
Tether taps Cantor Fitzgerald to help oversee bond portfolio: Report
The USDT issuer has made inroads into the traditional finance and accounting sectors as it attempts to increase transparency around its holdings. Go to Source Powered by WPeMatico
Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time … Read more
Tether assets exceed liabilities in new reserves report by BDO
As of Dec. 31, 2022, Tether’s consolidated assets amounted to at least $67 billion, exceeding consolidated liabilities by at least $960 million. Go to Source Powered by WPeMatico
Australia and the UK share their big picture of crypto: Law Decoded, Jan. 31–Feb. 6
While the British Treasury emphasizes the liberal approach, Australia goes with the profound taxonomy of all the crypto assets. Go to Source Powered by WPeMatico
Euro stablecoin launched in Finland, claims to be first approved in the EU
USDC issuer Circle Inc. previously released a euro-backed stablecoin that is regulated in the United States. Go to Source Powered by WPeMatico
Tether CTO Paolo Ardoino on taking the bull by the horn
Stablecoins may have suffered an identity crisis in 2022, but Tether CTO Paolo Ardoino is bullish about the utility the sector provides. Go to Source Powered by WPeMatico