Paxos

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08 Apr 23

Paxos’ hopes of becoming a national bank die, application for charter expires

Details from the United States Office of the Comptroller of Currency (OCC) show that Paxos’ application for a national banking charter, under “2020-NE-Charter-318305”, expired on March 31. Paxos national banking charter application expires Paxos, a stablecoin issuer regulated by the New York Department of Financial Services (NYDFS), had applied for a license under the Charter National Bank […]

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17 Feb 23

US law firm Pomerantz launches investigation into Paxos

Pomerantz has launched an investigation into Paxos on behalf of customers to unravel any wrongdoing by the Binance USD (BUSD) stablecoin issuer in the wake of the former’s battle with the Securities and Exchange Commission (SEC). Pomerantz investigating Paxos Pomerantz, a corporate securities and antitrust law firm with offices across the US and in Paris, […]

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13 Feb 23

Paxos to stop minting new BUSD stablecoin

Hours after the US Securities and Exchange Commission (SEC) had issued a Wells notice to Paxos, the issuer of BUSD, the company was reportedly told to stop issuing the stablecoin. New York regulator orders Paxos to stop new BUSD minting Changpeng Zhao, the CEO of Binance, broke the news on Feb. 13 after being informed […]

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13 Feb 23

SEC to pursue Paxos for Binance USD stablecoin issuance

SEC has begun legal plans to sue Paxos for issuing and listing Binance USD, a well-known stablecoin in the crypto ecosystem. The financial watchdog argues that the firm’s token issuance violates investor protection laws. SEC trails Paxos The US Securities and Exchange Commission (SEC) has issued a Wells notice to Paxos, a New York-based crypto […]