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Crypto Company Paxos is Ordered by a Regulator to Quit Issuing Binance Stablecoin


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    By

    Patricia Kowsmann

    and

    Caitlin Ostroff

    Updated Feb. 13, 2023 11:38 am ET

    BUSD, also known as Binance USD, is a stablecoin backed by U.S. dollars on a one-to-one basis. Photo: Lionel Ng/Bloomberg News

    New York regulators directed a crypto company to stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens. 

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