$BUSD is already losing its $1 peg following the halting of issuance operations announced by Paxos
The regulatory clampdown on the cryptocurrency sector is a growing concern for market participants. The uncertainty surrounding the industry has led many to question the future of cryptocurrencies, and it remains to be seen what other regulatory actions may be taken in the coming months. Despite the uncertainty, many remain optimistic thatwill continue to play a vital role in the financial landscape, and the recent clampdown will only strengthen the industry in the long term.
Recently, the Securities and Exchange Commission had taken action and charged Payward Ventures, Inc., and Payward Trading Ltd., more commonly referred to as Kraken, with neglecting to register its offering and sale of the staking-as-a-service program for its crypto assets. The program entailed investors transferring their crypto assets to Kraken for staking, in exchange for advertised annual investment returns that could reach up to 21%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breaking: Paxos reportedly ordered to stop issuing Binance USDNew York-based blockchain company Paxos Trust Co. is ordered to stop issuing Binance USD, or BUSD, by regulators —shortly after a lawsuit threat by SEC.
Read more »
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.
Read more »
SEC plans to sue crypto firm Paxos over Binance tokenThe Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws,...
Read more »