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You may obtain access to such products and services on the Crypto.com App. Stablecoin issuer Paxos will stop issuing new BUSD (Binance USD) stablecoins following a directive by the New York Department of Financial Services (NYDFS), according to an official statement on Monday. This comes shortly after the SEC issued a ‘wells notice’ to Paxos, informing the company of planned enforcement action on allegations that Binance USD is an unregistered security. The New York Department of Financial Services (NYDFS) has ordered blockchain company Paxos to stop issuing the dollar-pegged Binance USD (BUSD) stablecoin.