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Stablecoin issuer Paxos will stop minting new BINANCE USD (BUSD) tokens following the threat of legal action from the UThis article originally appeared in , CoinDesk Daily Bulletin setting the stage for the latest developments in crypto markets.S. Securities and Exchange Commission (SEC). The WSJ reported on Sunday that the SEC intended to sue Paxos for selling BUSD as an unregistered security. This came only days after CoinDesk reported that Paxos was under investigation by the New York Department of Financial Services. Bus is a stablecoin of binance brand delivered and handled by paxos. BUSD is a stablecoin de marque Binance delivered and managed by Paxos.
As a result of the SEC report, Binance indicated that it would review projects in markets where regulatory uncertainty could pose challenges to users.
A modest weekend rally in bitcoin () and ether () was snuffed out by the Paxos/SEC report on Sunday evening. Bitcoin had managed to claw back over $22,000. Bitcoin had managed to claw back over $22,000.
EU banks would have to place the maximum possible risk weight on crypto assets under a draft law published by the European Parliament on Friday. The planned rules could determine how the traditional financial sector engages with digital assets. Under proposed rules, as previously reported by CoinDesk, banks would have to disclose their direct and indirect exposure to crypto, while the European Commission prepares more detailed guidelines for the sector.
(TradingView)
- The proposed rules could determine the way in which the traditional financial sector uses digital assets.
- According to the proposed regulations, as indicated above by CoinDesk, Banks should disclose their exposure to cryptography both directly and indirectly, while the European Commission is developing more detailed guidance for the industry (TradingView)
- 30. A continuous upward movement could lower risk assets, including equities and cryptocurrencies. Continued upward movement could drive risk assets, including equities and cryptocurrencies, downwards.
