Binance USD (BUSD) issuer Paxos has announced that it “categorically” disagrees with the US Securities and Exchange Commission’s (SEC) definition of securities.
In a press release by Paxos on Monday, the claims put forward by the SEC and Binance USD (BUSD) suspect opposing the classification of securities. The company categorically disagreed with the SEC’s definition, arguing that BUSD is not a security under federal securities laws.
Also, BUSD always Backed by reserves in dollars at a ratio of 1:1 and claimed to be held in accounts far from bankruptcy. Expressing his dissatisfaction with these investigations, Paxos stated that they are ready to file a lawsuit, if necessary.
Also, in a press release by Paxos, Wells Statement It was emphasized that it is especially related to BUSD and not related to any other service of the company.
According to the latest information, after the complaint made by the Circle company New York Department of Financial Services (NYDFS) stablecoin issuer on your radar Paxosannounced that the production of BUSD will be stopped.