Paxos Says SEC Ends Investigation Related to Binance Stablecoin

Stablecoin issuer Paxos said the US Securities and Exchange Commission has ended an investigation related to the former Binance-branded coin known as BUSD.

The agency won’t recommend any enforcement action against Paxos Trust Co., the New York-based company said in a statement Thursday. Fortune first reported the termination of the probe. A spokesperson from the SEC said the regulator “does not comment on the existence or nonexistence of a possible investigation.”

Paxos confirmed over a year ago that it had received a Wells notice from the SEC stating that the agency was considering recommending an action alleging that Binance USD ...