The U.S. SEC has approved the registration of a Paxos subsidiary as a liquidation firm.

On May 29th, Cointelegraph reported that the U.S. Securities and Exchange Commission (SEC) has approved Paxos subsidiary Paxos Securities Settlement Company's registration as a clearinghouse. This makes it the first "blockchain-native" company to receive this qualification. Paxos stated that this approval marks a "key component of financial infrastructure" as blockchain technology continues to integrate with traditional capital markets. Registered blockchain clearinghouses remove barriers for banks and brokers to build crypto infrastructure.