Bloomberg: Stablecoin Issuer Circle Surrendered Competitor Paxos-Binance to Authorities
Bloomberg reports that a few months before the imposition of a ban on the issuance of Paxos-Binance stablecoins, Circle filed a complaint against a competitor with regulatory authorities. In late 2022, one of the largest stablecoin issuers, Circle Internet Financial, filed a complaint with the New York Department of Financial Services (NYDFS) against Paxos Trust, which regulates stablecoin issuers in New York State. Circle alerted the watchdog to the issues its team found and argued…
