As cryptocurrency firm Paxos was forced to stop issuing the dollar-pegged Binance token BUSD and is facing a ກົດຫມາຍວ່າດ້ວຍ ໂດຍຄະນະກໍາມະການຫຼັກຊັບ ແລະຕະຫຼາດຫຼັກຊັບສະຫະລັດ (SEC) over the issuance of the stablecoin it considers a security, Binance’s chief has explained the implications of courts siding with the SEC.
According to the CEO of the ການແລກປ່ຽນ crypto, Changpeng Zhao (CZ), if the courts rule BUSD as a security, significant effects can be expected on the future development of the ອຸດສາຫະກໍາ crypto, particularly in the areas where such a decision would pertain, as he ອະທິບາຍ ໃນວັນທີ 13 ກຸມພາ.
The Howey Test criteria
Furthermore, in the Twitter thread where he addresses the issue, CZ ກ່າວວ່າ that he agreed with crypto analyst Miles Deutscher, who ດຶງດູດຄວາມສົນໃຈ to the fact that BUSD didn’t meet the Howey Test criteria for it to be deemed a security in the first place.
The same view was ສະແດງອອກ by Ram Ahluwalia, the CEO of alternative asset investment manager Lumida Wealth, who reminded that the SEC had issued a No Action Letter ການ blockchain gaming token Pocketful of Quarters in 2019.
In the document, the regulator declared there was no ‘expectation of profit’ for the decentralized governance Q2 token, which had a fixed value (like a stablecoin), leading him to wonder:
“How can the SEC treat the Paxos-issued token as a security and remain consistent?”
BUSD funds are ‘SAFU’
At the same time, the Binance CEO ໄດ້ລະບຸໄວ້ that all funds were ‘SAFU,’ and that Paxos had been ordered “to cease minting new BUSD by the New York Department of Financial Services (NYDFS),” which would ຜົນ in BUSD market cap decreasing over time.
ດັ່ງທີ່ລາວອະທິບາຍວ່າ:
“Paxos also assured us the funds are SAFU, and fully covered by reserves in their ທະນາຄານ, with their reserves audited many times by various audit firms already.”
Meanwhile, Paxos and BUSD are the latest victims of the wide-reaching ການປາບປາມ crypto unleashed by the U.S. government in recent days, as ການຊື້ຂາຍ crypto ເວທີ Kraken was earlier ordered to shutter its ໃນລະຫວ່າງສ່ຽງ services in the country and the SEC chair Gary Gensler ປະກາດ using “all means available” to “protect the ການລົງທຶນ public” from the crypto risks.
ຮູບພາບທີ່ໂດດເດັ່ນຜ່ານ Binance.com
ປະຕິເສດ: ເນື້ອຫາຢູ່ໃນເວັບໄຊທ໌ນີ້ບໍ່ຄວນຖືວ່າເປັນຄໍາແນະນໍາດ້ານການລົງທຶນ. ການລົງທຶນແມ່ນຄາດຄະເນ. ເມື່ອລົງທຶນ, ທຶນຂອງເຈົ້າມີຄວາມສ່ຽງ.
Source: https://finbold.com/binance-ceo-says-declaring-busd-a-security-will-profoundly-impact-crypto-progress/