SEC ends investigation of Paxos, issuer of Binance's BUSD stablecoin, without recommending enforcement action.
The US SEC has ended its investigation into Paxos, a stablecoin issuer, without recommending enforcement action. This follows a recent federal judge ruling that Binance's BUSD sales did not constitute a securities offering. Paxos' BUSD stablecoin is backed by the US dollar and issued in partnership with Binance. The SEC's decision may provide greater clarity for the crypto industry.
July 11, 2024
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