TechFlow news: On May 28, according to PRNewswire, stablecoin issuer Paxos announced today that its subsidiary, Paxos Securities Settlement Company, LLC (PSSC), has received approval from the U.S. Securities and Exchange Commission (SEC) to register as a clearing agency, providing securities clearing and settlement services under Section 1 of the Securities Act. This registration makes PSSC the first blockchain-native clearing agency approved and registered in the United States, enabling it to function as a Central Securities Depository (CSD) for clearing and settling qualified securities transactions.
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