Odaily Planet Daily News: The U.S. Securities and Exchange Commission (SEC) has abandoned its investigation into PAXOS and determined that BUSD is not a security. According to a letter published by Fortune, Jorge Tenreiro, acting head of the Crypto Assets and Networks Division, informed Paxos on July 9 that he did not intend to recommend enforcement action. More than a year ago, the SEC issued a Wells notice to Paxos regarding the dollar-backed BUSD stablecoin issued by Paxos in cooperation with Binance. (Fortune)