At the time of writing, the price of a unit of BUSD has risen by over 30% and is currently trading at $8.32. Paxos announced on July 9th that the securities regulator has no intention of taking any enforcement action against the issuance of BUSD in collaboration with Binance, the world’s largest exchange. Three weeks ago, The Federal Criminal Police Office of Germany (BKA) began selling off 50,000 BTC confiscated from Movie2k.to in 2013, intensifying the selling pressure on Bitcoin. Throughout last week, they saw a massive $1.04 billion in net capital inflows, with five consecutive days of positive intraday flows.
This plea comes after U.S. authorities charged the exchange and its executives for violating AML provisions in 2020. Although its executives had already pleaded guilty and paid fines of $10 million each, the exchange’s plea comes four years into the case.
