Binance USD issuer Paxos announced that it is holding constructive talks with the US Securities and Exchange Commission (SEC) and that BUSD support will continue until at least 2024.
Paxos CEO Charles Cascarilla In a recent statement, the company signed a contract with the SEC over the stablecoin of cryptocurrency exchange Binance. “constructive conversation” he said he was doing it. Cascarilla noted that since the launch of BUSD in 2019 that the market is developing And Binance with financial relations now available not aligned with its strategic priorities. expressed.
Stating that BUSD is not a security and that he will defend this situation in court if necessary, Cascarilla added that the decision to cut ties with Binance is independent of the SEC’s Wells statement and the directive of the New York Department of Financial Services (NYDFS).
BUSD in any way “won’t throw it into the fire” The CEO detailed his statement with the following sentences:
We are fully focused on serving the ultimate owners of BUSD and protecting them from unnecessary harm. Paxos will continue to support BUSD until at least February 2024, maintaining the highest standards of security and robustness in the stablecoin market.
Paxos, which was exposed to pressure from US regulators, last week will terminate BUSD issuance had declared.