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.”
According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly including stablecoin Binance.
Circle is the gov.
O tal serviço caro.
Jasmy..buy setup
Whistle blowers cannot have both hands in the honeypot. These are at best mofos imho!
USDC is a register US bank. Use them and we’re back to square 1.
What goes around comes around, Circle