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Binance doesn't mint BUSD, BUSD is emitted by Paxos, which is an american licensed company.
by Saline9515 2y ago
Binance doesn't mint BUSD, BUSD is emitted by Paxos, which is an american licensed company.
- jqpabc123 2y agoI have a license to drive a car. Having it doesn't limit my ability to mint crypto.
- Saline9515 2y agohttps://www.dfs.ny.gov/consumers/alerts/Paxos_and_Binance https://www.dfs.ny.gov/consumers/alerts/Paxos_and_Binance It was approved by the New York State Department of Financial Services (NYDFS).
- jqpabc123 2y agoFrom your reference: The Department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos. If you insist, feel free to replace BUSD with an unregulated "stable coin" of your choice. How about FDUSD?
- Saline9515 2y agoThe sentence right before says "It is important to note that the Department authorized Paxos to issue BUSD on the Ethereum blockchain." As far as I know Binance ended the Binance-pegged BUSD (the BNB chain version bridged from ethereum) without any problem or holder loss?
- m00dy 2y agoGary Gensler called BUSD a security and banned it years go. What a guy!
- Saline9515 2y ago[flagged]
- jvanderbot 2y agoYes we definitely should have left all the sector unregulated or else how would we make a profit?
- Saline9515 2y agoI never said that it should be unregulated, just that the sanction applied to BUSD had a political motive. Of course stablecoins are not securities, just like a 20$ note isn't a security.
- jvanderbot 2y agoThe analogy to cash feels a bit strained. There's a difference in backing, don't you think?
- Saline9515 2y agoI was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html https://www.findlaw.com/consumer/securities-law/what-is-the-...
- desumeku 2y agoThey didn't regulate the crypto industry. They told everyone to stop and then refused to provide regulations or guidance on acceptable behavior despite continual begging by coinbase et al. to be allowed to cooperate.