Is the US Regulating by Enforcement?

The SEC issued a Wells notice to Paxos saying that basically we're going to be looking into you. And there may be some concerns that BUSD is an unregistered security. Then following that, the New York DFS said to Paxos that we have had issues with the way that you manage your relationship with Binance. We've raised these with you. You haven't corrected them in the time that we set. So therefore, we're Going to tell you to wind down BUSD entirely. That's about 16 billion dollars worth of tokens that now have to be wound down,.