#QuickTakes By

SEC Sued Crypto Firm Paxos Over Binance USD

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

The SEC plans to sue Paxos Trust Co. for violation of investor protection laws.

-: FOLLOW US :-  @theinsaneapp

The regulator has issued a Wells Notice to Paxos.

-: FOLLOW US :-  @theinsaneapp

The notice alleges that Binance USD is an unregistered security.

-: FOLLOW US :-  @theinsaneapp

The accused has 30 days to respond to the notice via a legal brief.

-: FOLLOW US :-  @theinsaneapp

An SEC spokesperson declined to comment on the matter.

-: FOLLOW US :-  @theinsaneapp

Binance USD is a Paxos issued and owned product.

-: FOLLOW US :-  @theinsaneapp

Paxos is regulated by the New York Department of Financial Services.

-: FOLLOW US :-  @theinsaneapp

Binance USD is a 1 to 1 backed stablecoin.

-: FOLLOW US :-  @theinsaneapp

Stablecoins provide a safety net for investors seeking refuge from volatile markets.

-: FOLLOW US :-  @theinsaneapp

Binance will continue to monitor the situation and provide a wide array of stablecoin options to users.

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!