The post Was BUSD, Binance’s Shadow Bank Solution to Access USD-Decode the Truth Here! appeared first on Coinpedia Fintech News
Binance appears to be in deep waters as the platform has been speculated to carry out multiple administered moves in the past and in the present time as well. Recently, the SEC’s crackdown on Paxos, restricting it from minting new BUSD stablecoin has stirred the entire crypto space. Mainly due to the reason, Paxos is registered and BUSD is a regulated entity.
However, the SEC considered it unregistered security and stopped the issuance of new tokens. It has to be noted that Paxos mints new BUSD on the Ethereum blockchain while the BUSD is also issued on the BSC chain which is minted on the BNB chain, Polygon, etc. This feature was introduced for the users to easily swap tokens between Ethereum and the other chains.
Therefore, while Paxos asked to halt the issuance of new tokens, Binance may still continue to do so.
Guessing this is the issue Binance f
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