The SEC has a stablecoin firm in its sights — and it could shake up 

The SEC has a stablecoin firm in its sights — and it could shake up the whole $137 billion market

[{"selector":"#anim-692780a2-b181-40b7-a1d1-6ad40518d2b8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.110925668993985%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d9b35037-8dec-47d2-bf44-a4fd31f9ffad","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-34b76eb8-76ce-4e25-9269-bd58de4948ad","keyframes":{"transform":["translate3d(115.84158%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The United States Securities and Exchange Commission may be preparing to take action against Paxos,

a business that publishes a particular kind of cryptocurrency known as stablecoin.

[{"selector":"#anim-ddcfe39b-27b9-436f-bbc3-43e4f1d6a71b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-21.874999829338588%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-15d45ebd-4970-463e-b75e-adb43c91c4fa","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e3806c35-1854-4578-b73b-a2ad5560e8a7","keyframes":{"transform":["translate3d(115.85760%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-5222573d-614b-4d93-b651-c1736988204b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.93339755556636%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-b34fe1a9-dbfc-4bf3-8c26-871d4c43aead","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b115e63b-7620-4c97-b3f5-b2db00674e67","keyframes":{"transform":["translate3d(122.22223%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] According to experts, the decision will have a significant impact on the $137 billion market.

[{"selector":"#anim-029f12f1-d0c3-4d27-ab31-c0d83ac811bc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-21.874999829338588%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-7a64306f-a93f-4b53-af2d-d249d824f1dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-809726a8-d341-4727-810f-4e8b2127d252","keyframes":{"transform":["translate3d(116.50485%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] A sort of cryptocurrency called a stablecoin is made to seem like real-world assets, like the dollar.

[{"selector":"#anim-279f66fb-6680-43ad-bf5c-04d8ee6582f5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.18382343343982%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bdc4dd15-93d9-47da-9495-7988f8c112ff","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2669989c-f1b8-4646-8ef6-59a36c77ed9a","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] These stablecoins frequently have genuine assets backing them up, like bonds or cash on hand.

[{"selector":"#anim-26a40411-2f67-40e7-ab06-dae27ec8b5f0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.262930920786953%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8984e567-7d09-444c-9efb-0a104ecbb32a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d9db076b-1783-45fd-b4d8-29a5f53a0946","keyframes":{"transform":["translate3d(116.82848%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Since they make it possible to quickly trade in and out of different coins without needing to exchange fiat money,

[{"selector":"#anim-22f9fc8f-f07b-40d3-803d-a1e33663a9a6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a3bb7ba8-2ae5-4b93-90dd-9e0d5c53ce20","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2783800b-82f3-43c3-8845-e6417c5edd8e","keyframes":{"transform":["translate3d(115.85760%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] They have grown to be the foundation of the cryptocurrency market. Binance USD, or BUSD, is a digital currency released by Paxos.

[{"selector":"#anim-ec49c671-ec0b-4369-a6b7-443086fa5519 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.262930920786953%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8442a0af-ff31-4a09-88e5-1ad6c06b47d0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e4c11a7e-d65e-471d-b37c-943be9055861","keyframes":{"transform":["translate3d(115.85760%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] It is a stablecoin linked to Binance, one of the largest cryptocurrency exchanges on the planet. BUSD and the USD are directly correlated.

[{"selector":"#anim-ef110f87-ec69-4745-ab55-51c26b1007fc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.2687498863395%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8a5236b0-aff4-4fd8-9a1a-c227b20c8159","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ecc94e90-c1a9-479e-bd61-ecea7287cdaa","keyframes":{"transform":["translate3d(116.82848%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The banking watchdog for New York state ordered Paxos to stop issuing BUSD last week.

Want more stories like this click bellow button

[{"selector":"#anim-09e0ec44-3153-4a57-b936-2879ff780e74 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.262930920786953%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Learn more