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The exchange recently opened deposits for the Paxos stablecoin on its exchange, which will debut with two currency pairs — Bitcoin and Binance Coin. Paxos has recently gathered flak from the crypto community because of a token freeze controversy, which makes Binance’s timing for listing the token appear very unfortunate.
Binance also announced its listing of Paxos Standard Token (PAX) on Twitter. Soon after, Binance CEO Changpeng Zhao wrote on Twitter: A heated debate then started in the comments section, with people suggesting about listing a decentralized stablecoin instead of a Tether clone. The company behind the stablecoin Paxos is also licensed with the US Securities and Exchange Commission and handled fiat to back up its coin.
Problems in the Paxos system were found by researcher John Backus, whose tweetstorms gave crypto users new insight into the coin. He wrote on Twitter: He went on to explain that the government gets direct control of people’s stablecoins, and it can make them ineffective at any time it feels comfortable. Following a regular legal process, the authorities can ask Paxos to freeze coins, and the organization can judge and fulfill the request, giving immense power to the government in the ecosystem.
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The exchange recently opened deposits for the Paxos stablecoin on its exchange, which will debut with two currency pairs — Bitcoin and Binance Coin. Paxos has recently gathered flak from the crypto community because of a token freeze controversy, which makes Binance’s timing for listing the token appear very unfortunate.
Binance also announced its listing of Paxos Standard Token (PAX) on Twitter. Soon after, Binance CEO Changpeng Zhao wrote on Twitter: A heated debate then started in the comments section, with people suggesting about listing a decentralized stablecoin instead of a Tether clone. The company behind the stablecoin Paxos is also licensed with the US Securities and Exchange Commission and handled fiat to back up its coin.
Problems in the Paxos system were found by researcher John Backus, whose tweetstorms gave crypto users new insight into the coin. He wrote on Twitter: He went on to explain that the government gets direct control of people’s stablecoins, and it can make them ineffective at any time it feels comfortable. Following a regular legal process, the authorities can ask Paxos to freeze coins, and the organization can judge and fulfill the request, giving immense power to the government in the ecosystem.
Binance is one such cryptocurrency that has gained massive success in crypto market.
ReplyDeleteAccording to coinpedia the binance coin price prediction the price will skyrocket in upcoming years.
Lets take quick look at:
binance coin