Paxos exits Canada amid increasing regulatory crackdown
Paxos follows exchanges OKX and dYdX which have announced exits from Canada at a time when regulators have enforced new and tougher regulatory measures.
Latest Paxos News
‘Crypto’ firms unbank themselves from struggling Silvergate
Silvergate notified the U.S. SEC that it wouldn't be filing the annual report on its fiscal health by March 16, insisting it "requires additional time" to fully diagnose its shortcomings.
Paxos stops minting BUSD—is Binance stablecoin finished?
Paxos CEO Charles Cascarilla said that the decision was not linked to the NYDFS order, clarifying that "The market has evolved, and the Binance relationship no longer aligns with our current strategic priorities."
Paxos ordered to cut ties with Binance, will stop minting BUSD stablecoin
Citing "unresolved issues" tied to its relationship with Binance, the NYDFS ordered Paxos to halt the minting of BUSD while users have until February 2024 to redeem their stablecoins.
SEC plans to sue Paxos over Binance USD stablecoin, stay tuned
The SEC has sent a "Wells notice" to Paxos Trust over its use of BUSD; although Paxos' BUSD is "approved and regulated" by the NYDFS, the SEC appears to regard it as an unregistered security.
Binance’s recovery fund: altruist or antagonist?
Self-appointed crypto-savior Changpeng "CZ" Zhao has committed the bulging resources of Binance to saving the digital asset industry, from a crisis he helped create. With friends like these…
Digital currency executives testify in Congress as US lawmakers mull industry oversight
When the hearing came to an end, it was clear that lawmakers have a positive outlook on the digital asset industry, although they have a few concerns about the sector that they are looking to fix via regulation.
Credit Suisse uses blockchain for trade settlement
Credit Suisse and broker-dealer Instinet have used the Paxos blockchain settlement service to complete an equities trade within 24 hours.
Two new digital currency banks?
Both Paxos and BitPay have filed with the United States Office of the Comptroller of the Currency to become national banks.
PayPal reportedly inching closer to digital currency service launch
It is expected that PayPal will launch their digital currency service via Paxos’ Crypto Brokerage API, according to sources familiar with the matter.