2023-02-13 17:25:46
Binance CEO Changpeng “CZ” Zhao has commented on Paxos and BUSD situation.
BUSD is issued and redeemed by Paxos.
Paxos has been directed to cease minting new BUSD by the New York Department of Financial Services (NYDFS).
Paxos is regulated by NYDFS.
BUSD is a stablecoin wholly owned and managed by Paxos.
Paxos will continue to service the product, and manage redemptions.
Binance will continue to support BUSD for the foreseeable future.
https://twitter.com/cz_binance/status/1625067484368740353
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