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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 22:19:31
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.