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SEC Approves Paxos as Blockchain-Based Securities Clearing Agency
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
The U.S. Securities and Exchange Commission has registered Paxos Securities Settlement Company as a clearing agency under Section 17A, making it the only blockchain-native firm authorized to operate as a central securities depository in the United States. The approval follows seven years of regulatory engagement, including a 2019 no-action letter and a live equities settlement pilot launched in 2020. The decision matters because it brings blockchain infrastructure into a core part of U.S. securities markets. Next, Paxos will operate under a temporary registration while regulators develop a broader settlement framework.
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