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?
This is no hype, if NY Department of Financial Services can ordered and be authoritative, then sooner or later other state regulatory body might follow suit as well.
But not sure if we can call it a crypto crackdown, maybe they just find something is not right on Paxos and BUSD that's they stop it. I haven't follow the news so not sure if Paxos will have to fight his case or just comply with the law.
So for me there is no effect on us and this is not a crackdown.