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?
They will sort those things out in future. If Paxos won't close their company, they will find resolutions and agreement with the NY Department of Financial Services. We saw many cryptocurrency companies had to pay fined charges when they failed with lawsuits to continue their business like Tezos XTZ.
It's not the end if Paxos has enough money to pay fined charges and I believe they have it. However it is early to say Paxos will accept that accuse against them.