SEC Threatens Lawsuit Against Binance BUSD Stablecoin-Issuer Paxos - What's Going On?

The Securities and Exchange Commission (SEC) has said it intends to sue Paxos Trust Company, a regulated New York-based firm that issues several popular stablecoins. The threat of a lawsuit from the SEC came in the form of a letter to Paxos. The letter is a so-called Wells notice, used by the regulator to notify companies of possible enforcement action taken against them....