Greetings dear followers and readers. Here’s our 3rd episode of our “weekly news review” for 13.02 – 17.02.2023 week.
Chainspot team
Let’s hop into it!
?SEC vs PAXOS
SEC will sue Paxos for listing stablecoin BUSD – regulator considers BUSD unregistered securities.
Paxos has 30 days to respond to the claim.
⛔️Paxos will stop issuing new BUSD tokens and will no longer work with Binance
The Wall Street Journal: The New York City Department of Financial Services ordered Paxos to stop issuing new BUSD tokens.
Also, Paxos has announced that it will stop working with Binance and BUSD.
Existing tokens will be backed 1:1 and can be redeemed (exchanged for dollars) until at least February 2024.
?Tron is getting a bit expensive
Users report that fees on the Tron network are breaking all records – the fee for sending 1 USDT now reaches $4
?The European Commission support crypto
The European Commission is launching a European regulatory sandbox that will support/sponsor about 20 projects annually.
?Binance is ready to settle the claims of US regulators
Binance Ready to Settle U.S. Regulatory Claims Through Penalty Payments – According to Representative exchange, the company was not prepared to face a large number of regulatory restrictions and could violate the laws against the background of active business growth.
But now the Binance team, together with regulatory authorities, is working to correct past mistakes.
?Another huge CBDC news
The Bank of Japan plans to launch a pilot Digital Yen Issuance Program (CBDC) in April 2023.
?Afterword
That was our quick review of the most interesting news that we’ve got this week.
Chainspot team
Thanks for your attention, follow our socials for being more informed in the crypto world. See you next week!
