Crypto Lobbying Needs a Reset: More FTC, less SEC

Of all the Securities and Exchange Commission’s actions against crypto entities that have stirred the industry’s ire, the agency’s recent move forcing New York-based Paxos to cease issuing its partner Binance’s BUSD stablecoin is the most deserving of an outcry. How, critics rightfully asked, can a token that’s explicitly designed not to fluctuate in price be considered a security?

• 2023-02-25
• BUSD SEC crypto community Paxos

BNB-Bitcoin Ratio Drops to Lowest Level in Six Months on Paxos-BUSD Drama

The recent regulatory action against Binance-branded BUSD stablecoin weighs over BNB token.

• 2023-02-21
• BNB BUSD Paxos BNB Chain

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

First Mover Americas: Bitcoin Posts Slight Gains Ahead of US CPI Data

The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 14, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

• 2023-02-14
• Consumer Price Index Paxos

Binance suffers worst day since December as crypto crackdown escalates

Binance has suffered its worst day for customer withdrawals since December after US regulators cracked down on a digital coin endorsed by the cryptocurrency exchange.

• 2023-02-14
• cryptocurrency exchange Paxos Binance cryptocurrency Binance USD

Markets: Bitcoin rises amid market jitters as Paxos stablecoin issuer next regulator target after Kraken clampdown

Bitcoin was the only top 10 non-stablecoin cryptocurrency to gain in Tuesday morning trading in Asia in a market unsettled by regulators in the U.S. targeting digital asset companies.

• 2023-02-14
• Paxos Trust Co. BUSD Paxos digital asset Bitcoin

Crypto company Paxos confirms SEC notice of potential charges relating to BSUD stablecoin

Stablecoin issuer Paxos said Monday that it received a Wells Notice from the U.S. Securities and Exchange Commission on Feb. 3, confirming a report by the Wall Street Journal on Sunday.

• 2023-02-14
• Wells Notice Paxos SEC BUSD U.S. Securities and Exchange Commission

Binance and Crypto Markets Rattled as Paxos Ordered to Stop Issuing Exchange’s Stablecoin

Scrutiny on the issuer of the Binance USD stablecoin marks just the latest pressure on Binance's links to the U.S. financial system.

• 2023-02-13
• BUSD Paxos Binance

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

SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ

The U.S. Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax Dollar and Binance USD tokens, over the latter. The news comes days after CoinDesk reported Paxos was under investigation by the New York Department of Financial Services.

• 2023-02-13
• BUSD Paxos SEC Binance-Peg BUSD