Allows cryptocurrency users to lend and borrow money from others decentralized finance (DeFi) A new development took place in the project Aave.
A member of the Aave community said on the platform after the news that the American Securities Commission SEC will sue Paxos. Binance USD (BUSD) drafted a bill on freezing stablecoins.
According to the governance proposal prepared by community member MarcZeller, the freezing process is based on the following reasons:
“Paxos will no longer be able to produce new BUSD tokens from this time on. Therefore, the supply is likely to drop to zero. If we do not freeze BUSD tokens, stable arbitrage and stability of the token to the dollar may suffer.”
MarcZeller, aave He thinks BUSD no longer has any growth potential, although it is unlikely to cause a problem for the company.
Although the proposal has not been voted on yet, it received a positive reaction on social media. Another member went further, stating that Aave should completely liquidate its BUSD holdings to mitigate risk.
SEC Caught Paxos!
According to the news reflected in the US press today, stable crypto asset issuer Paxos is in big trouble. allegedly SEC and New York regulators will soon sue the crypto company.
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