Non-Fungible Insights: Blockchain Decrypted
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February 21, 2023
|2 min read
SEC and the NYDFS Take Aim at Paxos
On February 13, 2023, Paxos Trust Company, LLC, a New York State-chartered trust company regulated by the New York State Department of Financial Services, confirmed via a statement that it received a Wells Notice from the Securities and Exchange Commission on February 3, 2023.
June 23, 2022
|5 min read
First Civil Litigation in the U.S. Brought in Response to the Crash of the Stablecoin TerraUSD
On June 13, 2022, a class-action lawsuit was filed in the Northern District of California against Binance U.S. (“Binance”), the United States-headquartered partner of one of the most prominent global digital asset exchange platforms. The named Plaintiff, who had purchased Terra USD (“UST”) through Binance since April 13, 2022, alleges, among other things, that Binance misrepresented UST as a “safe” asset to purchasers and violated U.S. federal and state securities laws.