Published by
Reuters UK
Reuters UK
By Medha Singh and Lisa Pauline Mattackal (Reuters) – The world of stablecoins is suddenly looking shaky. Seismic shifts may be afoot in the $137 billion market after New York-based Paxos Trust Company, which mints Binance’s stablecoin, said it would cease issuing new BUSD tokens after U.S. regulators labeled the asset an unregistered security. The U.S. move has left investors questioning the future shape of the market for stablecoins, tokens that are usually backed by traditional assets like dollars and U.S. Treasuries to tame the wild swings that characterize cryptocurrencies. The immediate …