This is not the first time BUSD has fallen below the stablecoin $1 mark, it has fallen below the $1 mark a few times in the past but it still survived every time, also this is not the first the United States Securities and Exchange Commission (SEC) has launched a witch hunt against the crypto industry and against Binance spreading lies and FUD news against Binance and other crypto firms but the big Flex CZ the CEO of Binance and Binance the largest crypto exchange firm by daily trading volume has is that they always come out on top and SEC with their tails in between their legs.
So I know Binance is not the issuer of BUSD and I know this attack on BUSD by the United States Securities and Exchange Commission (SEC) is a retaliation on Binance for suspending United States Dollar (USD) transfers, and it is not hidden that the united state is not much of a fan of Binance and has been coming for Binance any single opportunity they have. "YES" the FUD news by SEC against BUSD has affected both BNB Binance issued token and BUSD (Binance USD) issued by Paxos, as BNB has dropped from $313 to $289 the last time I checked, while BUSD was trading at $0.997 the last time I checked.
They are both dipping because a lot of people are reacting to the FUD news by the United States Securities and Exchange Commission (SEC) against BUSD issued by Paxos to get back a Binance for suspending all United States Dollar transactions saying that BUSD is an “unregistered security”, and they are suing its issuer Paxos for that, but my questions are what and how on Earth is a STABLECOIN considered a security, when it clearly does not meet the Howey Test criteria, as nobody on earth has ever bought BUSD with “the expectation of profit or profits from it". This is why I know BUSD will survive this witch hunt by SEC and would not join the likes of UST and HUSD.
What is Howey Test and its Criteria
The Howey Test is used to determine whether an investment contract exists. As per the Howey test, an asset can be classified as security if there is an investment of money in a common enterprise and the expectation of profits derived from the efforts of others.
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