With a flurry of harsh administrative actions from US experts over the past few days, computerized money markets are uneasy.
Paxos received a recommendation from the New York State Division of Monetary Administrations on Monday to stop issuing new Binance USD (or BUSD) stablecoins.
The market is waiting to examine the particular SEC criteria for Paxos to see if such standards might serve as recommendations for other stablecoins, such as Dollar Coin (USDC) and tie (USDT).