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Paxos in Talks With SEC Over Binance Stablecoin: Report

According to Reuters on Tuesday (Feb. 21, 2022), Charles Cascarilla, CEO of Paxos, sent an email to the firm’s employees on Feb. 18, informing them that the company is holding “constructive discussions” with the SEC. Earlier in February, Paxos received a Wells notice from the American regulator alleging that the firm was selling unregistered securities, indicating that the Binance-branded BUSD was a security. Cascarilla further said Paxos was looking to continue its discussions with the Securities and Exchange Commission privately, adding that the firm was ready to defend its stance that BUSD was not a security if it was necessary.

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