Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token - 0 views
-
John Kiff on 13 Feb 23Also, according to a Wall Street Journal (WSJ) report, the US Securities and Exchange Commission (SEC) has issued Paxos a Wells Notice for allegedly selling unregistered securities by issuing BUSD. That characterization typically hinges on the Howey Test, under which an investment contract exists if there is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others."