Reuters: Paxos is in constructive discussions with the U.S. SEC regarding Binance-related stablecoins

ChainCatcher news, according to an internal email seen by Reuters, Paxos Trust Company stated that it is having constructive discussions with the U.S. Securities and Exchange Commission (SEC) regarding Binance-related stablecoins.

In mid-February, the New York Department of Financial Services ordered Paxos to stop issuing new BUSD. Subsequently, Paxos announced that it would terminate its partnership with Binance regarding BUSD and would stop issuing new BUSD starting February 21. Paxos stated that BUSD currently has sufficient reserves to support it, and customers can redeem BUSD at least until February 2024, or convert BUSD to USDP. (source link)