SEC to Sue Paxos for Listing Binance USD Stablecoin, 1. The | CryptoForce

SEC to Sue Paxos for Listing Binance USD Stablecoin,

1. The SEC is planning to sue Paxos for listing Binance USD, a stablecoin, without the required approval.

2. According to the Wall Street Journal, the lawsuit would accuse Paxos of acting as an unregistered national securities exchange.

3. Paxos has faced regulatory scrutiny in the past, with the New York Department of Financial Services revoking its BitLicense in 2015.

4. Binance USD is a stablecoin pegged to the US dollar, which allows for quicker and cheaper transfers between cryptocurrency exchanges.

5. Paxos has yet to comment on the reported lawsuit from the SEC.

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