Paxos Is Holding ‘Constructive Discussions’ With SEC, Ending Binance Relationship
Cascarilla said the decision is because "the Binance relationship no longer aligns with our current strategic priorities" in the evolving market.
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.
Ripple General Council and Attorney John Deaton Speak of Chances of SEC Losing XRP Lawsuit in Supreme Court
The XRP lawsuit filed against Ripple Labs and two of its executives in December 2020 could go as far as involving the Supreme Court. This impression was conveyed by Ripple General counsel Stuart Alderoty in a tweet on Monday.
Regulators Are To Blame for All the Crisis in Crypto, Says Kraken CEO
Jesse Powel, the co-founder, and CEO of Kraken, a cryptocurrency exchange, thinks users should blame regulators for the ongoing crises in crypto.
Crypto Evening Briefing: Hong Kong Plans To Let Retail Sector Trade Larger Crypto Tokens Like Bitcoin
Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, taking a major step toward its goal of becoming a crypto hub in a policy shift that contrasts with a crackdown in the US.
US Sends Team to Brussels To Study EU’s Landmark Crypto Law Amid SEC Crackdown
Congress is dispatching a delegation of staffers to the European Union.
SEC Planting Its Regulatory Flag As Congress Still To Pick a Regulator: SEC’s Peirce
The Securities and Exchange Commission is attempting to “plant its regulatory flag," while Congress is still mulling which agency will be police crypto, said Hester Peirce, a commissioner at the regulator.
Cointime News Wrapup-Afternoon Version: Kraken CEO Jesse Powell Says Regulators Support the Bad Guys in Crypto
Kraken CEO Jesse Powell said that the regulators allow the bad guys to get big and blow up. He exposes how they ignored warnings signs.
SEC Faces Criticism for Lack of Clarity in Crypto Compliance Rules
The US Securities and Exchange Commission (SEC) is facing criticism for not providing clear guidance on compliance rules in the digital asset industry.
The SEC Has a Stablecoin Firm in its Sights — and it Could Shake up the Whole $137 Billion Market
The U.S. Securities and Exchange Commission could be gearing up to take action against Paxos, a company that issues a type of cryptocurrency called stablecoin. The move will have major implications for the $137 billion market, experts told CNBC. Stablecoins are a type of cryptocurrency designed to mirror real-world assets such as the U.S. dollar. These stablecoins are often backed by real assets such as bonds or cash in reserve. They have become the backbone of the crypto market as they allow people to trade in and out of different coins quickly without having to convert in and out of fiat currency. (CNBC)
