US SEC Ends Investigation Into Paxos Trust’s BUSD Stablecoin

TheNewsCrypto · 2024-07-11T19:53:02.000Z

The acting chief of the SEC’s crypto assets and cyber branch notified Paxos in a letter. A sense of relief washed over Paxos’s head of strategy, Walter Hessert. After reviewing Paxos Trust Company’s Binance USD (BUSD) stablecoin, the U.S SEC has chosen to end its inquiry. Announced via a termination notice, the outcome brings much-needed clarity to the industry’s regulatory landscape regarding stablecoins. The acting chief of the SEC’s crypto assets and cyber branch, Jorge Tenreiro, notified Paxos in a letter shared on July 9 that he would not be proposing an enforcement action. This letter was given almost a year after Paxos and Binance’s dollar-backed BUSD stablecoin was indicated in a Wells notice by the SEC as a potential enforcement action. In spite of these claims, Paxos insisted that BUSD did not meet the requirements for a security. As it was pegged 1:1 with reserves denominated in U.S dollars. The crypto sector was understandably worried by this drawn-out investigation, which hindered Paxos’ ability to sign new deals. Forging New Collaborations Binance was vindicated by a federal court, which likely led the SEC to decide to stop the inquiry. The case related to this was withdrawn on June 28 because the court determined that the sales of BUSD did not constitute a securities offering. Therefore, the SEC’s decision on Paxos could have been affected in some manner by this court win for Binance. Moreover, a sense of relief washed over Paxos’s head of strategy, Walter Hessert, as the probe came to a close. Also, he made note of how the move will free up Paxos to concentrate on forging new collaborations with businesses. Now that the SEC’s inquiry is over, the market should be clearer, and talks with large companies like PayPal might go much more quickly. Highlighted Crypto News Today: Toncoin (TON) Price Consolidates Eyeing for a Breakout

美國證券交易委員會加密資產和網絡部門代理負責人在一封信中通知了 Paxos。
Paxos 戰略主管 Walter Hessert 心裏感到一陣輕鬆。
在審查了 Paxos Trust Company 的 Binance USD (BUSD) 穩定幣後，美國證券交易委員會決定終止調查。該結果以終止通知的形式宣佈，爲該行業關於穩定幣的監管格局帶來了急需的清晰度。
SEC 加密資產和網絡部門代理負責人 Jorge Tenreiro 在 7 月 9 日分享的一封信中通知 Paxos，他不會提議採取執法行動。這封信是在 SEC 在 Wells 通知中指出 Paxos 和幣安的美元支持穩定幣 BUSD 可能被採取執法行動近一年後發出的。
儘管有這些說法，Paxos 仍堅持認爲 BUSD 不符合證券的要求。因爲它的匯率爲 1:1，儲備以美元計價。加密貨幣行業對這場曠日持久的調查感到擔憂，這阻礙了 Paxos 簽署新交易的能力。
建立新的合作關係
聯邦法院宣判幣安無罪，這可能導致美國證券交易委員會決定停止調查。與此相關的案件於 6 月 28 日被撤回，因爲法院裁定 BUSD 的銷售不構成證券發行。因此，美國證券交易委員會對 Paxos 的決定可能會在某種程度上受到幣安勝訴的影響。
此外，隨着調查結束，Paxos 戰略主管 Walter Hessert 也鬆了一口氣。他還指出，此舉將讓 Paxos 騰出更多時間專注於與企業建立新的合作關係。現在 SEC 的調查已經結束，市場應該會更加明朗，與 PayPal 等大公司的談判可能會進展得更快。
今日重點加密新聞：
Toncoin（TON）價格盤整，有望突破

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