Wall Street Journal (gated) with the report. In brief:
- The Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws, according to people familiar with the matter
- The SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action, according to the people.
- The notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security, according to the people.
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Bitcoin update, its lost ground but remains above US$20K so far. It looked shaky last week, adding to recent losses (Bitcoin hourly chart looks vulnerable)
