Summary: Paxos will wind down its relationship with Binance for the BUSD stablecoin. BUSD redemptions will continue till at least February 2024 but no new tokens will be minted following an order from the New York Department of Financial Services and an SEC lawsuit. Binance will also continue to support BUSD while making “product adjustments accordingly”. The crypto community voiced bewilderment over the SEC’s decision to go after a fully U.S.-regulated entity like Paxos. Regulated blockchain company Paxos said that
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