The New York State Department of Financial Services said it had directed your company to stop issuing a stablecoin branded by Binance. Paxos is an infrastructure provider of regulated products, and we create white label products where other people's brands might be on them. And you know, when you have that going on there can sometimes be confusion, which we really work very, very hard to try and avoid. I'll be honest, we want more regulation. We think there's a place, there really is no place for unregulated stablecoins. You're not going to get wide scale adoption without it.
Bloomberg News White House Correspondent Jordan Fabian and Bloomberg Economics Chief Economist Tom Orlik discuss economic relations between the US and China and President Joe Biden blasting China’s economic problems as a “ticking time bomb.” Paxos CEO Charles Cascarilla talks about creating a stablecoin partnership with PayPal. Kathryn Minshew, CEO of The Muse, explains the trend of “Lazy Girl Jobs.” Bloomberg Businessweek Editor Joel Weber and Businessweek Special Projects Editor Reyhan Harmanci share stories from the Bloomberg Businessweek Out of Office Special Issue. And we Drive to the Close with Dana D’Auria, Co-CIO of Envestnet PMC.
Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan.
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