#SEC plans to sue Paxos for issuing BUSD as unregistered securities#

#SEC plans to sue Paxos for issuing BUSD as unregistered securities#

According to the Wall Street Journal citing people familiar with the matter, the stablecoin issuer Paxos will face a lawsuit by the US Securities and Exchange Commission (SEC) for BUSD-related issues. The New York Department of Financial Services also ordered stablecoin issuer Paxos to stop issuing more BUSD tokens. Affected by the news, the crypto market pulled back across the board.

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