A powerful regulator is directing New York-based crypto company Paxos to stop minting the stablecoin Binance USD (BUSD). Binance CEO Changpeng Zhao says the New York Department of Financial Services (NYDFS) ordered Paxos, which issues and operates the stablecoin in a partnership with Binance, to freeze production. Zhao says Paxos will continue to honor redemptions The post Powerful New York Regulator Targeting Top Stablecoin – Binance Confirms Paxos Will No Longer Mint BUSD appeared first on The Daily Hodl .
