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NYDFS

Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
Video
Sec
Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just af...
Paxos To Stop Minting BUSD After Regulatory Action; IMF Issues Warning Over El Salvador’s Bitcoin Experiment
By CoinDesk Inc
Feb 13, 2023 at 8:35 p.m. UTC
Feb 13, 2023
SECIMFPaxoscdtvStablecoinaab clipEl SalvadorBUSDNYDFSHut 8 MiningBinance usdBitcoin corp
Binance CEO Changpeng Zhao (Antonio Masiello/Getty Images)
Markets
Markets
Binance USD's $16B Market Cap Up for Grabs as Paxos Regulatory Action Stirs Up Stablecoin Rivalry
Tether’s USDT stablecoin will likely be a big winner as Paxos stops issuing Binance USD stablecoin after being sued by the top U.S. securities watchdog.
Binance CEO Changpeng Zhao (Antonio Masiello/Getty Images)
By Krisztian Sandor
Feb 13, 2023 at 7:34 p.m. UTC
Feb 13, 2023
MarketsStablecoinBinanceChangpeng "CZ" ZhaoTetherUSDTBUSDCircleUSDCDAITradingNYDFSSEC
Adrienne A. Harris, superintendent of the New York Department of Financial Services (NYDFS)
Policy
Regulations
Regulator NYDFS Says Paxos Didn't Administer Binance USD in 'Safe and Sound' Manner: Reuters
The New York regulator said Paxos’ management of the stablecoin left it open to use by bad actors.
Adrienne A. Harris, superintendent of the New York Department of Financial Services (NYDFS)
By Jesse Hamilton
Feb 13, 2023 at 4:02 p.m. UTC
Feb 13, 2023
RegulationsPaxosNYDFSNew York Department of Financial ServicesStablecoins
Paxos CEO Charles Cascarilla at Invest 2018 (CoinDesk)
Policy
Regulations
SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ
Paxos also faces a probe from the New York Department of Financial Services.
Paxos CEO Charles Cascarilla at Invest 2018 (CoinDesk)
By Nikhilesh De
Feb 13, 2023 at 12:23 a.m. UTC
Feb 13, 2023
RegulationsSECPaxosNYDFSStablecoinsBUSDBinance
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
Video
Nikhilesh de
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
The New York Department of Financial Services (NYDFS) is investigating stablecoin issuer Paxos, CoinDesk has learned. The full scope of the investigation is unclear. CoinDesk...
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
By CoinDesk Inc
Feb 10, 2023 at 4:35 p.m. UTC
Feb 10, 2023
Nikhilesh DePaxoscdtvStablecoinFM Clipcrypto regulationNYDFSNik De
Paxos CEO Charles Cascarilla (Danny Nelson/CoinDesk)
Policy
Regulations
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
The scope of the crypto-related investigation is not yet clear.
Paxos CEO Charles Cascarilla (Danny Nelson/CoinDesk)
By Nikhilesh De
Feb 9, 2023 at 8:53 p.m. UTC
Feb 9, 2023
RegulationsPaxosNYDFSInvestigationStablecoinsExclusive
Gemini Customers Given Confusing Information About Whether Earn Accounts Were FDIC Insured: Report
Video
Nikhilesh de
Gemini Customers Given Confusing Information About Whether Earn Accounts Were FDIC Insured: Report
Cryptocurrency exchange Gemini reportedly implied to customers that their assets in its interesting-bearing Earn product were safe because they were backed by the Federal Depo...
Gemini Customers Given Confusing Information About Whether Earn Accounts Were FDIC Insured: Report
By CoinDesk Staff
Jan 30, 2023 at 10:02 p.m. UTC
Jan 30, 2023
Nikhilesh DeGeminicdtvFM ClipAxioscrypto regulationNYDFSNik DeState of CryptoStateCrypto_Sponsor
Gemini founders Cameron and Tyler Winklevoss (Shutterstock)
Policy
Gemini
Crypto Exchange Gemini Emphasized FDIC Insurance in Communications With Earn Customers: Report
Gemini reportedly repeatedly implied that the assets of customers using its Earn product were safe thanks to being backed by the Federal Deposit Insurance Corp.
Gemini founders Cameron and Tyler Winklevoss (Shutterstock)
By Jamie Crawley
Jan 30, 2023 at 12:56 p.m. UTC
Jan 30, 2023
GeminiFDICNYDFSGenesis
Sam Bankman-Fried, after pleading “not guilty” in federal court. (Michael M. Santiago/Getty Images)
Policy
Regulations
In Wake of FTX, New York Reminds Crypto Firms to Segregate Customer Funds
The crypto exchange's bankruptcy proceedings revealed poor segregation of customer funds, so the New York regulator is reminding service providers to keep clean records.
Sam Bankman-Fried, after pleading “not guilty” in federal court. (Michael M. Santiago/Getty Images)
By Sandali Handagama
Jan 23, 2023 at 3:27 p.m. UTC
Jan 23, 2023
RegulationsNYDFSFTXCryptoNew YorkBitLicense