Insiders: The U.S. SEC plans to sue Paxos for issuing BUSD as unregistered securities

ChainCatcher news, according to a report by The Wall Street Journal citing sources, stablecoin issuer Paxos is facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) over issues related to BUSD. The SEC has sent a notice to Paxos regarding potential enforcement action, stating that the BUSD issued and listed by Paxos is an unregistered security, and plans to sue Paxos for violating investor protection laws, and may take enforcement action. (source link)