Infrastructure Company Paxos in Talks with the SEC
Infrastructure company and issuer of stablecoins Paxos is looking forward to continued constructive discussions with the SEC and is ready to defend its position in court if necessary, the company CEO Charles Cascarilla has stated.
The NYDFS opened an investigation into the company on February 10 and later ordered Paxos to stop issuing BUSD.
The SEC also announced it was studying the possibility of suing the company. According to the watchdog, the digital asset is a security, with which the company “strongly disagreed.”
Cascarilla has explained that the decision to terminate cooperation with Binance was made separately from the directives of the regulators. He has added:
“The market has evolved. The relationship with Binance is no longer in line with our current strategic priorities.”
