The New York Department of Financial Services (NYDFS) has requested stablecoin issuer Paxos to cease issuance of Binance USD (BUSD).
The Wall Street Journal (WSJ) reported on February 13 that NYDFS ordered Paxos to cease production of BUSD. In the news based on WSJ Binance’s statements, the exchange’s BUSD will stop production however your operations by Paxos will continue to be executed he said he reported.
A Binance spokesperson, who made a statement to the press, said that Paxos has safe is that you guarantee and given regulatory uncertainty interests of users other projects in the relevant jurisdictions in order to protect they will review stated.
News, SEC tells Paxos whether BUSD violates securities laws wells came shortly after sending the notification. The SEC recently announced that BUSD off the record from Paxos on suspicion of securities defense had requested.
On the other hand, Binance CEO official social media account of the WSJ’s claims, referring to a post he made in the past. FUD implied that. CZ refers to in the past postin 2023 FUD with fake news that could spread to the fight more will give importance had expressed.