SEC drops its investigation into BUSD stablecoin following probe into Paxos | Headlines | News | CoinMarketCap
07/11/2024 22:06
The U.S. Securities and Exchange Commission has said it does not plan to recommend an enforcement action against Paxos following a probe into …
The Block Crypto News17 minutes ago
Foresight
BUSD
SEC
Chair
Block
Published on July 11, 2024 14:47 GMT+00:00edited on July 11, 2024 14:49 GMT+00:00
The U.S. Securities and Exchange Commission has said it does not plan to recommend an enforcement action against Paxos following a probe into stablecoin Binance USD.
Paxos said it received a "formal termination notice" on July 9, which said the SEC would not recommend enforcement against the firm in the investigation of BUSD. Fortune first reported the news.
“We believe this development will unlock a new wave of stablecoin adoption by leading global enterprises," Paxos said in a statement on Thursday. "Well-designed stablecoins with strong consumer protections - like those issued by Paxos - will transform the financial system in payments, settlement and remittance use cases."
The SEC issued a notice to crypto infrastructure provider Paxos last year over its involvement in Binance USD …