Wealth: Federal judge's ruling in favor of Binance may lead the SEC to change its position and consider BUSD a non-security
2024-07-11 14:19:31
Fortune Magazine Disclosure United States Securities and Exchange Commission Decision Bundle New Yorkdesk3cryptocurrencydesktopCrypto News
According to Fortune magazine, the Securities Exchange Commission has decided to suspend the investigation of New York-based stablecoin issuer Paxos. Jorge Tenreiro, the agency's deputy head of crypto assets and network division, has informed Paxos that it does not plan to take enforcement action. A spokesperson for the Securities Exchange Commission said it would not comment on whether there is a possible investigation. Analysts believe that the SEC's decision is likely to change its position because a federal judge ruled in favor of Binance on June 28, because the ruling determined that the sale of BUSD did not constitute a securities offering and ordered the charges to be dropped. The latest decision may boost the US stablecoin industry.
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