Paxos

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services.In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle ap ...

Crypto infrastructure firm Paxos has secured in-principle approval from Singapore’s regulator for a new entity that’s planning the launch of a U.S. dollar-backed stablecoin.In a Nov. 15 statement, Paxos said it received an initial nod from the Monetary Authority of Singapore (M ...

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD. In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gra ...

EDX, a cryptocurrency exchange launched a week ago with the backing of traditional finance heavyweights such as Citadel Securities, Fidelity Digital Assets and Charles Schwab, is reportedly preparing to switch custody providers, dropping Paxos Trust in favor of Anchorage Digital. EDX has a noncus ...

The dollar-pegged Binance USD (BUSD) stablecoin sits now at the fourth position in market capitalization among other stablecoins following a dip of over $1 billion in the past 30 days, data from CoinMarketCap shows.As of writing, BUSD market cap stands at $4.30 billion, down 29% from $5.54 ...

Stablecoin issuers, including Tether and Circle, have spent more than $1.3 million lobbying for cryptocurrency legislation in the United States since the beginning of 2022. Stablecoins have recently become the focus of U.S. lawmakers trying to develop a regulatory framework ...

Paxos, the cryptocurrency company, has recently announced its decision to withdraw from the Canadian market. In an email sent to its Canadian customers, the company stated that it would no longer provide support to users in the country, with account disabling scheduled for May 9, 2023. The mov ...

According to recent reports, Paxos has had its national banking license application terminated by the US Comptroller's Office. Paxos, which issues the Pax Dollar (USDP) stablecoin, had delayed compliance with the regulator's requirements for an earlier application for a banking license and approv ...

According to a recent report by Paxos experts, despite the downfall of several prominent cryptocurrency firms, centralized platforms still remain a trusted source for users to store their funds. The study, conducted by Paxos analysts on January 5-6, aimed to gauge market sentiment after a challen ...

The unanimous approval of the proposal to freeze BUSD reserves in the Ethereum Aave V2 pool took effect on February 27th. According to comments posted on the official DeFi AAVE protocol resource, the decision to block Binance USD (BUSD) stablecoins was made despite the fact that BUSD is not a borrow ...

The US SEC and a financial regulator in New York have launched investigations against Paxos, the operator of BUSD stablecoin which is owned by Binance exchange. It is unclear whether the attack is solely directed towards Binance or whether other stablecoin issuers could be targeted next. Recently, t ...

A member of the Dogecoin Foundation's board, known on Twitter as Mishaboar, has expressed concerns over the recent conflict surrounding Paxos and Binance USD (BUSD) stablecoin. Mishaboar stated that Binance CEO Changpeng Zhao attempted to downplay BUSD's significance in the exchange's ecosystem, des ...

Paxos' CEO, Charles Cascarilla, has expressed his disagreement with regulatory bodies' views on BinanceUSD (BUSD), a stablecoin, being classified as a security. He stated that Paxos has always strived to maintain good relationships with regulators and comply with the law since its inception. Howe ...