{"id":432612,"date":"2024-07-11T17:07:56","date_gmt":"2024-07-11T16:07:56","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=432612"},"modified":"2024-07-11T17:07:56","modified_gmt":"2024-07-11T16:07:56","slug":"sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin\/","title":{"rendered":"SEC ends probe into Paxos, no actions on BUSD stablecoin"},"content":{"rendered":"<p>The US Securities and Exchange Commission (SEC) has ended its investigation into stablecoin issuer <a href=\"https:\/\/cryptoslate.com\/companies\/paxos\/\">Paxos<\/a>.<\/p>\n<p>On July 11, Paxos <a href=\"https:\/\/paxos.com\/blog\/paxos-prevails-in-sec-investigation-of-busd-stablecoin-and-sec-will-not-pursue-enforcement-action\/\">announced<\/a> that it received an investigations termination notice from the SEC a few days earlier on July 9. The notice confirmed that the regulator would not pursue enforcement action against Paxos Trust Company regarding the <a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> USD (<a href=\"https:\/\/cryptoslate.com\/coins\/binance-usd\/\">BUSD<\/a>) stablecoin.<\/p>\n<p>This development comes over a year after the SEC<a href=\"https:\/\/cryptoslate.com\/the-sec-may-potentially-sue-paxos-over-binanceusd-wsj\/\"> issued a Wells notice<\/a> suggesting a potential enforcement action against the stablecoin issuer over its role in the dollar-backed BUSD stablecoin. Notably, it also follows a recent federal judge's ruling that <a href=\"https:\/\/cryptoslate.com\/judge-dismisses-counts-related-to-busd-bnb-sales-in-sec-binance-lawsuit\/\">BUSD sales did not contravene securities law<\/a>, as the financial regulator claimed.<\/p>\n<p>While BUSD's supply has all but evaporated, Paxos had <a href=\"https:\/\/cryptoslate.com\/paxos-asserts-that-binance-usd-is-not-a-security-under-two-separate-tests\/\">publicly maintained<\/a> that the stablecoin was not a security and promised to fight the SEC claims.<\/p>\n<p>Following the completion of the SEC's investigations, the firm reiterated this claim, stating:<\/p>\n<blockquote><p>&#8220;Paxos Trust Company has always maintained that its USD-backed stablecoins are not securities under federal securities laws and that the Wells Notice was unwarranted and unjustified.&#8221;<\/p><\/blockquote>\n<p>Paxos has issued several regulated digital assets, including PayPal USD (<a href=\"https:\/\/cryptoslate.com\/coins\/paypal-usd\/\">PYUSD<\/a>), Pax Dollar (USDP), and Pax Gold (PAXG). The company holds licenses from various financial regulators, including the NYDFS in the US, the MAS in Singapore, and the FSRA in the Abu Dhabi Global Market.<\/p>\n<h2>&#8216;New wave of adoption'<\/h2>\n<p>Paxos predicts that the conclusion of the SEC's investigation into the BUSD stablecoin will spur a new <a href=\"https:\/\/cryptoslate.com\/rising-stablecoin-supply-shows-an-influx-of-capital-into-the-crypto-market\/\">wave of stablecoin adoption<\/a> by major global enterprises.<\/p>\n<p>It stated:<\/p>\n<blockquote><p>&#8220;Well-designed stablecoins with strong consumer protections \u2013 like those issued by Paxos \u2013 will transform the financial system in payments, settlement and remittance use cases. This transformative technology will make the financial system more stable, accessible and transparent.&#8221;<\/p><\/blockquote>\n<p>Stablecoins have proven to be one of the most effective real-world applications of crypto technology, particularly in emerging markets such as Nigeria. The assets are usually pegged to the US dollar and provide a stable alternative to volatile crypto like <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission (SEC) has ended its investigation into stablecoin issuer Paxos. On July 11, Paxos announced that it received an investigations termination notice from the SEC a few days earlier on July 9. The notice confirmed that the regulator would not pursue enforcement action against Paxos Trust Company regarding the Binance [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":432631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,11,32631],"tags":[76800,78407,74981],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC ends probe into Paxos, no actions on BUSD stablecoin<\/title>\n<meta name=\"description\" content=\"Stablecoin issuer Paxos celebrates as SEC&#039;s investigation concludes without charges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC ends probe into Paxos, no actions on BUSD stablecoin\" \/>\n<meta property=\"og:description\" content=\"Stablecoin issuer Paxos celebrates as SEC&#039;s investigation concludes without charges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-11T16:07:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/paxos-sec.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/sec-ends-probe-into-paxos-no-actions-on-busd-stablecoin\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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