Cryptoverse: Tether tightens grip on wobbling world of stablecoins

FILE PHOTO: A representation of bitcoin is seen in an illustration picture taken on June 23, 2017. REUTERS/Benoit Tessier/File Photo

(Reuters) - The world of stablecoins is suddenly looking shaky.

Seismic shifts may be afoot in the $137 billion market after New York-based Paxos Trust Company, which mints Binance's stablecoin, said it would cease issuing new BUSD tokens after U.S. regulators labeled the asset an unregistered security.