Binance may cut ties with U.S. businesses due to strict regulatory measures by the SEC.
The SEC's investigation of Paxos has especially made the company think about the dramatic decision, according to reports.
- Binance, one of the largest cryptocurrency exchange platforms in the world, is reportedly unhappy with recent developments in the cryptocurrency industry that have seen regulatory authorities around the world intensify their efforts to find any irregularities.
- The SEC has become especially active recently, resulting in a slew of lawsuits and investigations against companies such as Ripple, Terraform Labs, Paxos, etc.
- Recently, the SEC launched a thorough investigation on Paxos, a company that issues BUSD. The latter is a stablecoin that is created by Binance and has served millions of users on the platform.
- The SEC directed Paxos to stop issuing the stablecoin in order to avoid a similar situation as with Terra USD, but it seems that Binance disagrees with the decision.
