Confusion Spirals In Crypto As The Us Cracks Down
The SEC declined to comment, but Paxos, which is based in New York and Singapore, confirmed today that the agency alleges BUSD should have been registered as a security in the US, which requires compliance with complex rules. In a statement, the firm said it “categorically disagrees” that BUSD is a security but has complied with an order from the New York Department of Financial Services to halt the creation of any new BUSD, effectively strangling the coin....