The SEC is reportedly planning to sue Paxos Trust Co. for violating investor protection laws over the issuance of Binance USD.
in The Wall Street Journal citing people familiar with the matter, the SEC issued a Wells Notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action.to Investopedia, after a Wells Notice is received, the accused is allowed 30 days to respond to it via a legal brief known as a Wells Submission, which includes arguments to prove why the charges should not be brought against prospective defendants.— a U.S.
Paxos is also the creator of the Paxos Dollar stablecoin which was launched in 2018 and is also behind digital asset exchange itBit which it launched in 2012 alongside the founding of Paxos.
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