#nydfs
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The SEC accuses Paxos Trust, the Pax Dollar, and BUSD stablecoins issuer, of illegal trading securities. You sound like a broken record, Mr. Gensler!
The Commission seems to have a hard time in court: Paxos has been authorized by the New York Department of Financial Services (NYDFS); it operates under its supervision, and its stablecoins are actively used by institutional investors in the United States.
The crypto community will see an epic battle between SEC prosecutors and NYDFS lawyers! We’re wondering who has more powerful attorneys: Paxos or Ripple? 
NYDFS wants to increase transparency from cryptocurrency companies operating in the state, particularly in their processes for listing and delisting cryptocurrencies.
The new framework will require firms to develop their coin-listing policies in three key areas: governance for the coin-listing process, risk assessments of coins, and procedures for monitoring coins.
The framework will also require firms to provide detailed information on their criteria and decision-making process for delisting a coin.
The proposed legislation is open for public comments and will remain so until October 20th. 1 - 3 of 3 results