Paxos CEO Charles Cascarilla seems to be actively engaged with the U.S. Securities and Exchange Commission (SEC) over the recent order to stop issuing the stablecoin. The company had then said it categorically disagrees with the SEC’s views BUSD was not a security under the Federal securities law. Sticking to the same argument, Cascarilla said in an internal communication that the company would defend its position in courts that BUSD is not a security through litigation.