Signature Bank takeover could leave crypto companies scrambling for financial services

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

• 2023-03-13
• Silicon Valley Bank financial services Signature Bank SVB Silvergate USDC volatile industry deposit base New York Department of Financial Services

State of Crypto: Interpreting the Paxos-Binance Tea Leaves

Remember how the U.S. Securities and Exchange Commission’s declaration of war against crypto staking was big news for like two days? This week we’re looking at the other big news from last week: Paxos and the Binance USD stablecoin it issues. The SEC has apparently alleged the sale of BUSD violates securities laws, and the New York Department of Financial Services has asked Paxos to cease issuing the token.

• 2023-02-16
• U.S. Securities and Exchange Commission Paxos BUSD Wells Notice New York Department of Financial Services SEC Binance

Bitcoin, Ether Drop as Investors Fret Over Inflation Data, Stablecoin Regulation

The largest cryptocurrency by market value continued to linger below $22,000. Ether fell below $1,500.

• 2023-02-14
• inflation report foreign exchange market Bitcoin New York Department of Financial Services regulatory activity

Binance and Paxos Caught up in Crypto Regulatory Crackdown

Paxos has announced that it will halt the minting of the BUSD stablecoin as regulators clamp down on crypto firms.

• 2023-02-14
• Paxos BUSD Binance Federal Deposit Insurance Corporation New York Department of Financial Services Changpeng Zhao

Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin

Paxos Trust will stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens.

• 2023-02-13
• Paxos Trust Co. BUSD New York Department of Financial Services Paxos Binance

PayPal just paused its plan to release a stablecoin after reports its partner is under investigation amid a larger crypto crackdown

The reported pause follows a month of concerted federal and state regulatory actions against crypto companies.

• 2023-02-11
• PayPal Department of Financial Services New York Department of Financial Services digital payments spokesperson payment provider Paxos