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Binance doesn't mint BUSD, BUSD is emitted by Paxos, which is an american licensed company.



I have a license to drive a car. Having it doesn't limit my ability to mint crypto.


https://www.dfs.ny.gov/consumers/alerts/Paxos_and_Binance

It was approved by the New York State Department of Financial Services (NYDFS).


From your reference:

      The Department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos. 
If you insist, feel free to replace BUSD with an unregulated "stable coin" of your choice. How about FDUSD?


The sentence right before says "It is important to note that the Department authorized Paxos to issue BUSD on the Ethereum blockchain."

As far as I know Binance ended the Binance-pegged BUSD (the BNB chain version bridged from ethereum) without any problem or holder loss?


Gary Gensler called BUSD a security and banned it years go. What a guy!


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Yes we definitely should have left all the sector unregulated or else how would we make a profit?


They didn't regulate the crypto industry. They told everyone to stop and then refused to provide regulations or guidance on acceptable behavior despite continual begging by coinbase et al. to be allowed to cooperate.


I never said that it should be unregulated, just that the sanction applied to BUSD had a political motive. Of course stablecoins are not securities, just like a 20$ note isn't a security.


The analogy to cash feels a bit strained. There's a difference in backing, don't you think?


I was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-...




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