(Reuters) – Paxos said on Monday it had received a notice from the U.S. Securities and Exchange Commission stating it is considering recommending an action alleging that BUSD is a security and the blockchain firm should have registered the offering under the federal securities laws.
BUSD is a fiat-backed stablecoin issued by Binance and Paxos.
(Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
