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https://www.wsj.com/articles/crypto-firm-paxos-to-stop-issuing-dollar-pegged-binance-token-94f65e52
Firm will continue to manage redemptions of the product
New York regulators directed a crypto company to stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens.
The New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token, Binance said in a statement. Paxos will continue to manage redemptions of the product, the giant crypto exchange added.
