Stablecoin issuer Paxos was reportedly discussing the Binance USD (BUSD) stablecoin with the United States Securities and Exchange Commission following a Wells notice from the financial regulator.
According to a Feb. 21 Reuters report, Paxos chief executive officer Charles Cascarilla said the firm was “engaged in constructive discussions” with the SEC and would continue to speak in private. The report followed the stablecoin issuer facing a lawsuit from the SEC, in which the regulator alleged BUSD was an unregistered security.