
New York Regulator Investigating Stablecoin Issuer Paxos Standard
Binance said that it’s closely watching the developments of a probable investigation of Paxos Trust Co.
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Binance said that it’s closely watching the developments of a probable investigation of Paxos Trust Co.
The NYDFS has always been a fan of innovation favoring the impact Paxos has made in the financial market within the country.
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Pax Dollar (PAX) is a stablecoin that allows users to exchange US dollars for Paxos Standard Tokens to ‘transact at the speed of the internet’. It aims to meld the stability of the dollar with blockchain technology. Paxos, the company behind PAX, has a charter from the New York State Department of Financial Services, which allows it to offer regulated services in the cryptoasset space.
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