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SEC
Stablecoin Issuer Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security
Paxos acknowledged it received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming based on the charge that its Binance USD (BUSD) stablecoin constitutes an unregistered security, according to a Monday press release. But the stablecoin issuer said it "categorically disagrees with the SEC staff because BUSD is not a security under the federal securities laws." CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses what we know so far and the larger implications for crypto regulation.
Stablecoins Are Not New. So Why Are Regulators Attacking Paxos?
Former Paxos head of portfolio management for BUSD argues that stablecoins can be as safe as regulated financial products like money market funds.
Paxos Says it Will 'Engage' With SEC and 'Vigorously Litigate' if Needed
TuongVy Le, Bain Capital Crypto Partner and Head of Regulatory and Policy, reacts to Paxos saying that it has received a Wells Notice from the U.S. Securities and Exchange Commission, indicating a possible enforcement action based on the charge that its Binance USD constitutes an unregistered security. Plus, the potential implications for Kraken halting all U.S. staking operations as part of a $30 million settlement with the SEC.
SEC to Make It Harder for Hedge Funds to Work With Crypto Firms: Bloomberg
The rule change would make it harder for crypto firms to become "qualified custodians," according to the report.
SEC Case Against Bankman-Fried Postponed Pending Criminal Trial
Charges can wait until the Department of Justice’s case against the FTX founder concludes, a judge said.
Blockchain Association Files Amicus Brief in Coinbase Insider Trading Case
The crypto lobbying group is arguing that the SEC is engaging in “absentee enforcement” because the creators of the nine tokens, that are at the center of the insider trading case, are not linked to the case.
How the SEC Could Reshape Ethereum’s Staking Landscape for the Better
By shutting down Kraken’s staking service, the SEC could shift power over Ethereum toward solo stakers and decentralized alternatives.
Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security, Says It Will Litigate if Needed
The stablecoin issuer confirmed it has received a Wells Notice from the SEC, indicating a possible enforcement action is forthcoming.
Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). The International Monetary Fund (IMF) has warned that bitcoin's risks in El Salvador should be addressed. Shares of Hut 8 Mining continue to slide after agreeing to merge with U.S. Bitcoin Corp last week.
Algorand Foundation CEO: SEC’s Crypto Crackdown Highlights Lack of Regulatory Clarity
Staci Warden told CoinDesk TV crypto-native firms are being punished rather than given guidance.
