Quote from: ChillyMatthew on Today at 04:55:52 PM

GM crypto fam.
So, the NY Department of Financial Services has ordered Paxos to stop minting BUSD effectifly as of yesterday (Feb. 21st).
How big of an impact is the government's crackdown on crypto going to have on the crypto market's growth in the US?

source:
https://app.getresponse.com/view.html?x=a62b&m=BJvOSR&mc=9M&s=BtgXWnG&u=QcLhh&z=EJo0QoX&

I am still assuming this claim about Paxos is true and they somehow messed up:

Quote

violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform.

Because only other reason i see for this is that they would have done it out of spite. Because end result isn't keeping anyone safe. In fact Further attempts to drive down stablecoins could lead to catastrophy in markets and might hurt people more then FTX ever did. Dedollarisation would be an interesting thing to see but ultimately that could mean not only end of stablecoins, it would mean end of fiat pairs. And i don't have a clue how we would survive that.