PYUSD is regulated by the New York State Department of Financial Services and issued by Paxos Trust Company. USD is issued by the US Treasury.
A note about freeze & seize
Although Paxos has the ability and the right to freeze all USD Stablecoins tokens, including PYUSD, Paxos would only deploy such ability in very limited circ*mstances, such as when an illicit incident is discovered as part of Paxos’ real time fraud risk monitoring process and / or as reported to us by law enforcement. Paxos will report such incidents to law enforcement and/or regulators in a timeline manner, and will freeze certain PYUSD if required to do so by law, specifically when Paxos receives a formal, binding legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos. Paxos would only seize your PYUSD if so formally required in writing by a binding law enforcement agency, a regulator, or a judicial body.
For more information, please see Section 3.4 of the US Dollar-Backed Stablecoin Terms & Conditions.
