Binance Stablecoin Backer Ordered to Cease Issuing Token

  • Binance USD (BUSD) stablecoin is issued and redeemed by New York-based Paxos.
  • Both Paxos and BUSD are regulated by the New York Department of Financial Services.
  • Binance CEO Changpeng Zhao has ordered Paxos to stop issuing the token.


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