The year 2024 continues with defeats for the US Securities and Exchange Commission (SEC). After dropping its investigation into Consensys in recent weeks, the agency has now dropped its investigation into Paxos. The SEC had alleged that BUSD, Paxos’ stablecoin for Binance, was a security. However, with the dropping of this investigation, the possibility of a lawsuit has been eliminated, and the SEC has also acknowledged that BUSD is not a security.

After Ether spot ETFs…

As it will be remembered, the SEC ended the investigation into Consensys, the company behind the Metamask wallet, on the issue of “Ether, which passed to the PoS system, is a security…” a few weeks ago and officially notified the company. It is noteworthy that the investigation into Paxos on BUSD was also closed after the adoption of Ether spot ETFs.

Last year, both the SEC and the NYDFS, the New York state regulator, asked Paxos to stop issuing BUSD, and the company accepted this request. BUSD, Binance’s own stablecoin, was then gradually delisted from the exchange, and related pairs were also gradually delisted.

Binance’s next move after this decision will be eagerly awaited.