(CNBC) The U.S. Securities and Exchange Commission could be gearing up to take action against Paxos, a company that issues a type of cryptocurrency called stablecoin. The move will have major implications for the $137 billion market. Stablecoins are a type of cryptocurrency designed to mirror real-world assets such as the U.S. dollar. These stablecoins are often backed by real assets such as bonds or cash in reserve.
The SEC has a stablecoin firm in its sights — and it could shake up the whole $137 billion market
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