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RE: So the SEC is Going After Paxos and $BUSD

in LeoFinance • 2 years ago

Maybe a dumb question, but is the Paxos issued BUSD the same as the Binance issued BUSD?

Notably, Paxos’ BUSD, though related to Binance’s self-issued Binance-pegged BUSD, is a separate product.

Read the above from this article and am like totally confused.

2 years ago in LeoFinance by
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     2 years ago  

    I never paid attention to the disctinction before either. From what I have gathered
    fiat -> paxos -> erc20 busd
    erc20 busd -> binance -> busd on all other chains

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     2 years ago  

    I was wondering if Paxos was required due to the Binance restrictions in the US.

    I convert AUD to BUSD in Binance and I assume it's Binance that issues it. If that's the case, this SEC lawsuit will only have implications on the issuance of BUSD in the US?

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