{"id":554777,"date":"2023-02-21T19:00:00","date_gmt":"2023-02-21T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/paxos-is-engaged-in-constructive-discussions-with-sec-report\/"},"modified":"2023-02-21T19:00:00","modified_gmt":"2023-02-21T16:00:00","slug":"paxos-is-engaged-in-constructive-discussions-with-sec-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/paxos-is-engaged-in-constructive-discussions-with-sec-report\/","title":{"rendered":"# Paxos is engaged in \u2018constructive discussions\u2019 with SEC: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29950d9410f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29950d9410f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/paxos-is-engaged-in-constructive-discussions-with-sec-report\/#%E2%80%9D_Paxos_is_engaged_in_%E2%80%98constructive_discussions_with_SEC_Report_%E2%80%9C\" >&#8221; Paxos is engaged in \u2018constructive discussions\u2019 with SEC: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Paxos_is_engaged_in_%E2%80%98constructive_discussions_with_SEC_Report_%E2%80%9C\"><\/span>&#8221; Paxos is engaged in \u2018constructive discussions\u2019 with SEC: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvYzk2OGMzYTAtYWRhMC00YTljLWFhYmQtMTVlNWFiMTc4ZjEwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Stablecoin issuer Paxos was reportedly discussing the Binance USD (BUSD) stablecoin with the United States Securities and Exchange Commission following a Wells notice from the financial regulator.<\/p>\n<p>According to a Feb. 21 Reuters report, Paxos CEO Charles Cascarilla <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/paxos-engaged-constructive-discussions-with-us-sec-over-binance-stablecoin-2023-02-21\/\">said<\/a> the firm was \u201cengaged in constructive discussions\u201d with the SEC and would continue to speak in private. The report followed the stablecoin issuer\u00a0facing a lawsuit from the SEC, in which the regulator alleged BUSD was an unregistered security.<\/p>\n<p>Cascarilla reportedly said that Paxos would consider defending its position that BUSD was not a security through litigation. On Feb. 13, the New York Department of Financial Services \u2014 Paxos is licensed in the U.S. state \u2014 ordered the company to stop the issuance of BUSD. The firm announced that it would halt minting of the stablecoin starting Feb. 21.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Paxos in discussions with U.S. SEC over Binance stablecoin- internal email <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3CS9UBPGV5\">https:\/\/t.co\/3CS9UBPGV5<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LyxjCwU0bj\">pic.twitter.com\/LyxjCwU0bj<\/a><\/p>\n<p>\u2014 Reuters Business (@ReutersBiz) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ReutersBiz\/status\/1628039395465986049?ref_src=twsrc%5Etfw\">February 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>An SEC spokesperson previously told Cointelegraph that it would not comment on the \u201cexistence or nonexistence of a possible investigation\u201d with Paxos, but the regulator\u2019s move was the latest in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of crypto enforcement actions. The SEC announced it had reached an agreement with Kraken on Feb. 9, in which the firm agreed to stop offering staking services or programs to U.S. clients and pay $30 million.<\/p>\n<p><strong><em>Related:\u00a0SEC lawsuit against Paxos over BUSD baffles crypto community<\/em><\/strong><\/p>\n<p>The NYDFS investigation against Paxos may have stemmed from a report from Circle, which reportedly sent in a complaint to the state regulator regarding Binance\u2019s reserves. Following the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> around BUSD, data from Binance suggested there had been a surge of withdrawals \u2014 roughly $2.7 billion in outflows between Feb. 12 and Feb. 13.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/paxos-is-engaged-in-constructive-discussions-with-sec-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Paxos is engaged in \u2018constructive discussions\u2019 with SEC: Report &#8220; Stablecoin issuer Paxos was reportedly discussing the Binance USD (BUSD) stablecoin with the United States Securities and Exchange Commission following a Wells notice from the financial regulator. According to a Feb. 21 Reuters report, Paxos CEO Charles Cascarilla said the firm was \u201cengaged in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/c968c3a0-ada0-4a9c-aabd-15e5ab178f10.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[138848,76605,74898,75493,70934],"class_list":["post-554777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance-usd","tag-paxos","tag-sec","tag-stablecoin","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554777"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554778"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}