Circle reportedly alerted NYDFS in autumn 2022.
on Feb. 13, ordering Paxos “cease minting Paxos-issued BUSD” and reiterating its requirements for tokens under its regime to be fully backed by cash or cash equivalents.BUSD was “not a security under the federal securities laws”, adding:
“BUSD issued by Paxos is always backed 1:1 with US dollar-denominated reserves, fully segregated and held in bankruptcy remote accounts. We will engage with the SEC staff on this issue and are prepared to vigorously litigate if necessary.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: BloombergStablecoin issuer circle reportedly sounded an alarm on rival PaxosGlobal after learning that the Paxos-issued BUSD was not properly backed by reserves, leading NYDFS to start investigating. cheyenneligon reports
Lire la suite »
How zk-SNARKs Improve Binance’s Proof of Reserves System | Binance BlogAs part of our ongoing effort to improve transparency in the industry, Binance recently upgraded its Proof of Reserves system with zk-SNARKS. In this blog we cover: 🔸 Zero-Knowledge Proof 🔸 Why we use it 🔸 zk-SNARKS And more ⤵️
Lire la suite »
How to Increase the Sales of Your Binance P2P Ads | Binance BlogDid you know? As a Binance P2P merchant, you can increase your sales by carefully creating and customising your P2P ads. Here are some tips on how ⤵️
Lire la suite »
Breaking: Paxos to face SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission has alleged that Binance USD is an unregistered security, and is planning to sue Paxos over the issuing or listing of the coin.
Lire la suite »
Breaking: Paxos facing SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission reportedly plans to sue Paxos over its issuance of Binance USD, alleging that the stablecoin is an unregistered security.
Lire la suite »