The SEC has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws. The SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action. The SEC notice alleges that Binance USD, a digital asset that Paxos issues and lists, is unregistered security. What Is Behind SEC Lawsuit Against Paxos? BUSD is a Binance-branded stablecoin pegged to the dollar on a one-to-one ratio. Binance and Paxos announced the partnership to launch in 2019. The Paxos-run digital The post SEC to Sue Crypto Firm Paxos Over Binance USD Token appeared first on Cryptoknowmics-Crypto News and Media Platform .
