It was stated that Paxos, one of the largest stablecoin issuers in the crypto money market, is being investigated by the New York Department of Financial Services (NYDFS).
According to the news published by Bloomberg on February 10, NYDFS Pax Dollar (USDP) And Binance USD (BUSD) Cryptocurrency company that issues stablecoins like Paxos fully about the unknown is conducting an investigation.
Issued by the company’s NYDFS “Bitlicenses” known to hold a virtual currency license called to the investigation no explanation was given. However, a NYDFS officials consumers To protect against cryptocurrencies widely a study being carried out and in this context regulated constantly with institutions in communication stated that they were.
Paxos has been at the center of many claims and speculations in the recent past. Recently U.S. Currency Controller’s Office (OCC) And US Federal Reserve (FED) The company denied the allegations that it was under investigation by the OCC. full banking license otherwise the application is withdrawn. to be rejected the request for does not reflect reality stated.
on the other hand expertsthe company’s exit from OCC in 2021 a temporary banking license from the company’s peers tighter passing a check may be expressed.