By Hannah Lang, Tom Wilson and Elizabeth Howcroft
The firm behind Binance’s stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform.
In a statement on Monday, Paxos said it disagreed with the SEC’s allegations that Binance USD is a security and is “prepared to vigorously litigate if necessary.”
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