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<p>According to Cointelegraph.com, the SEC issued a Wells Notice to Paxos before suing the firm for violation of investor protection laws in relation to unregistered security of Binance USD. Paxos itself is the owner and issuer of BUSD, which has been around since the firm struck a partnership with Binance in September 2019.  On the other hand, a spokesperson for Binance said BUSD is a &#34;Paxos issued and owned product&#34; with Binance licensing its brand to the firm for use with BUSD. It added Paxos is regulated by the New York Department of Financial Services (NYDFS) and that BUSD is a &#34;1 to 1 backed stablecoin.&#34;  </p><p>#KOMnews #kommunitas #paxos #binance #bnb #sec #unregisteredsecurity #busd #cryptonews #cryptoupdate</p>

Paxos To Face SEC Lawsuit Over Binance USD

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