Paxos is ordered to stop issuing Binance’s dollar-pegged token
Policy
The New York Department of Financial Services ordered Paxos Trust Co. to halt the creation of BUSD, a dollar-pegged Binance stablecoin. Binance and Paxos launched the token in 2019, claiming New York’s financial regulator approved it. t is now the third largest stablecoin by market cap.
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