SEC intends to sue Paxos over Binance USD: WSJ | coindesk JAPAN | Coindesk Japan

The US Securities and Exchange Commission (SEC) intends to sue issuer Paxos in the case of stablecoin Binance USD (BUSD). The Wall Street Journal reported on Feb. Paxos also has its own branded stablecoin, Pax Dollar (USDP).

An SEC spokesperson told Coinesk that it would not comment beyond clarity.

The SEC claims that BUSD is an unregistered security. Park Seok was reportedly under investigation by the New York State Department of Financial Services (NYDFS) a few days ago.

BUSD is a stablecoin issued by Paxos under the brand of crypto asset (virtual currency) exchange Binance. Paxos has not yet responded to a request for comment.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Paxos CEO Charles Cascarilla (CoinDesk)
｜Original: SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ