The SEC and the Internet Are Playing Catch Up With Cryptocurrency

The SEC has settled with crypto exchange Kraken for $30 million. Paxos, a stablecoin issuer, was ordered last week to stop issuing Binance USD or BUSD by the state of New York Financial Services Department. The SEC is planning to sue Paxos over B finance being an unregistered security. It was also discovered last week that Binance has moved $400 million from Binance US to a trading firm called Merit Peak LTD owned by CZ, the CEO of Binance.