Stablecoin giant Paxos confirmed to be under investigation by New York financial authorities.
The New York Department of Financial Services (NYDFS) has acknowledged an ongoing probe.
Known for running Binance USD (BUSD), Paxos is an industry leader in stablecoin technology. Offerings also include the native Paxos stablecoin USDP.
It is not confirmed whether these stablecoins are the target of the investigation. NYDFS refuses to comment….
Read More: New York Regulator Launches Investigation into Stablecoin Issuer Paxos – Binance BUSD in Trouble?