All Stablecoins Are Equal...

... but some stablecoins are more equal than others.

bUSD to be Phased Out, SEC Gives Notice

The tokenized dollar bUSD, with a market cap of $16 billion, is gradually being phased out after its issuer, Paxos, was ordered to stop minting.

“We were informed by Paxos they have been directed to cease minting new BUSD by the New York Department of Financial Services (NYDFS),” said Changpeng Zhao, Binance’s founder.

Why are these companies still in the USA?

SEC is on an absolute warpath. […] I wouldn’t be surprised if they are reviewing USDC, specifically. One senior executive at an exchange told me a few days ago that the SEC was effectively embarking on its own crypto version of the ‘Night of the Long Knives.’

Here’s Why The Stablecoin And Binance FUD Might Be Overblown

Paxos will continue to manage redemptions of the product. Existing BUSD’s remain fully-backed and redeemable through at least February 2024.

“The SEC has labeled BUSD as an ‘unregistered security,’ and is suing its issuer, Paxos. But how on earth is a STABLECOIN considered a security, when it clearly doesn’t meet the Howey Test criteria. No one has ever had ‘the expectation of profit’ when buying BUSD,” Deutscher wrote.

This is how the scum operate; they float to the top, then smother all life underneath them.

...the U.S. Securities and Exchange Commission may not have a problem with stablecoins per se, but with the issuers’ interest products.
Another hint is that Paxos’ USDP stablecoin is not included in the announcement, and that the SEC’s crackdown on BUSD may be solely related to its deposit and interest product.

That just makes the SEC liars and shills for the Fed. This starts to make sense. I mean, a dollar in your pocket does bugger all - apart from possibly devalue. It is only financial products that give money some earning potential, and it is only the debt-economy that quantifies those earnings as being above or below some value set by central banksters.

A whole new system that is set to totally disrupt that managed ponzi is going to seriously trigger all the psycho-banksters. Doesnt mean the new system isn't flawed, just that it has the potential to skim the scum off the top.