New York’s financial regulator issues new guidance on dollar-backed stablecoins
The New York Department of Financial Services introduced new policies aimed at protecting stablecoin investors.

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The Paxos Standard Token is a stablecoin running on Ethereum. For stablecoins like PAX, the company behind the protocol is responsible for holding reserves that fully back each token. The company behind PAX, Paxos Trust Company, claims to hold reserves that fully back each PAX.
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The price of Paxos Standard has risen by 0.03% in the past 7 days. The price declined by 0.05% in the last 24 hours. In just the past hour, the price grew by 0.08%. The current price is $0.99935 per PAX. Paxos Standard is 50.53% below the all time high of $2.02.
The current circulating supply is 945,642,940.11 PAX.
Paxos Standard was mentioned in 73 out of 1,597,510 social media posts on Twitter and Reddit on Jun 27, 2022. 12 unique individuals are talking about Paxos Standard and it is ranked #1,320 in most mentions and activity from collected posts.
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