The New York supervisory authority allegedly stops spending Busd out, but is it just fud?

The New York supervisory authority allegedly stops spending Busd out, but is it just fud?

The world's largest crypto exchange has reported that the New York finance Ministry of Finance has instructed Paxos to set the issue of Stablecoin Binance USD (BUSD).

Busd is the seventh largest cryptocurrency with a market capitalization of over $ 16 billion.

• The United States continues their procedures against several cryptocurrency participants. After Kraken fell victim to the SEC last week and had to stop his staking services, Paxos and Binance now seem to fall below the regulatory scope.
• Cryptopotato quoted a WSJ report that informed that the SEC had published a notification of Wells to Paxos in order to warn of possible legal steps in which the company was claimed that the company is not selling registered securities when it spends Busd.
• Recent reporting of Wall Street Journal claimed that Binance had admitted that the Nydfs Paxos Trust Co had to confiscate the issue of the stablecoin.

"Paxos informed us that they have been instructed by the New York State Department of Financial Services to stop the new Busd." - reads an explanation that has been reported to Bloomberg.

• While both the WSJ and Bloomberg said, Binance had given the explanation, the CEO of the company - Changpeng Zhao - said a little different on Twitter.
• he referred to an old contribution in which he emphasized that people should be aware of the previous fear, uncertainty and doubt (FUD) that have been created by some media in the past, and they should ignore new such cases.

4 https://t.co/6f27u0mqp1

- cz 🔶 binance (@cz_binance) 13. February 2023

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