On February 12, 2023, The Wall Street Journal published an article entitled “Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token” which stated that “[t]he Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws, according to people familiar with the matter[.]” Further, according to the article, “[t]he SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action” and that “[t]he notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security.”
Paxos Trust Co., BUSD Token
Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of purchasers of BUSD resulting from allegations that Paxos Trust Co. violated federal securities laws.
If you purchased BUSD Tokens and would like to join the prospective action, please click “Join This Class Action.”
Details of the case:
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