On Monday, the New York-based Paxos announced that it will end its partnership with the crypto giant Binance and halt minting BUSD, a Binance-branded stablecoin created in collaboration by the two companies, effective Feb. 21.
The decision comes after reports that the Securities and Exchange Commission plans to sue Paxos, and in light of an order from the New York Department of Financial Services instructing Paxos to stop creating the token.
