SEC’s Actions Against Binance Stablecoin Issuer May Have Major Implications On $137B Market

The Securities and Exchange Commission is reportedly preparing to take action against Paxos Trust Co, which could probably have significant implications for all stablecoins, including tether and USDC, the two largest, which are worth $110 billion combined. Paxo issues stablecoin, a cryptocurrency designed to mirror real-world assets often backed by real assets such as bonds or cash in reserve.