The United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos, alleging that BUSD is unregistered security. On the same day, the New York Department of Financial Services (NYDFS) ordered Paxos to halt the issuance of BUSD. Members of the community were confused and argued that people buying the stablecoin were not expecting it to go up in value. Rumors also suggest SEC attacks may not be cooling down anytime soon.
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