SEC drops investigation into Paxos, decides BUSD stablecoin not a security

A recent move by the Securities and Exchange Commission (SEC) to quietly end its investigation into Paxos, a stablecoin issuer from New York.

A recent court ruling favoring Binance, which stated BUSD sales were not a securities offering, likely influenced the SEC’s decision. As Congress continues to delay new regulations for the crypto sector, many see the SEC’s move as a positive development.