PAXGIs PAX Gold (PAXG) a security?
#54 by market cap · Last updated Oct 19, 2026 (evidence re-checked)At a glance
Unclear- ConfidenceLowLowHigh
- US exchange accessCoinbase (US incl. NY)
- Regulator (if enacted)SEC or CFTC (undecided)
- Evidence4 sources · 1 official
Is PAX Gold (PAXG) a security?
Unclear. A token representing physical gold held by an issuer. It's not a crypto-network token, and no official US classification under the CLARITY Act framework was found.
There's no official US classification yet, so treatment could go either way. Watch for SEC or CFTC statements and exchange listing changes. Pro alerts flag these for you.
What should I do if my token is "unclear"? →
Why this status
- R5: a token representing physical gold held by an issuer. It's not a crypto-network token, and no official US classification under the CLARITY Act framework was found.
Decentralisation ("mature blockchain" test): Issuer-controlled gold-backed token (centralized by design).
Evidence (4 sources)
1 official
- BackgroundThird-partyOct 19, 2026 · CoinGecko
Project description: PAX Gold (PAXG) is an asset-backed token where one token should represent one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities.
CoinGecko: PAX Gold ↗ - Exchange listingThird-partyOct 19, 2026 · Coinbase
PAXG appears on Coinbase's 'US (incl. NY) Trading Assets' list.
Coinbase Digital Asset Disclosures: 'US (incl. NY) Trading Assets' list ↗ - RegulatorOfficial sourceAbsent / not foundMar 23, 2026 · Federal Register (SEC & CFTC)
PAXG is not among the SEC's named examples of digital commodities in the March 2026 interpretation.
SEC interpretation (with CFTC guidance): Application of the Federal Securities Laws to Certain Types of Crypto Assets, Release 33-11412 ↗ - BackgroundThird-partyDec 12, 2025 · Paxos
Paxos says PAXG is issued by Paxos Trust Company, N.A. under OCC oversight. Each token represents one fine troy ounce of gold.
Paxos: OCC approves conversion to a national trust charter (Paxos Trust Company, N.A.) ↗
Rules by country
Unclear (ClarityCheck estimate, low confidence). The CLARITY Act is not law, so today the SEC's and CFTC's existing frameworks apply.
Under MiCA, trading in the EU runs through authorised crypto-asset service providers (CASPs). We haven't yet checked token-specific MiCA white paper filings for PAXG. ESMA register ↗
The UK's new FCA cryptoasset regime starts on Oct 25, 2027. Firms can apply from Sept 30, 2026 until Feb 28, 2027. There's no token-by-token classification list; the rules apply to the firms that offer the token. FCA ↗
PAXG questions
Is PAX Gold (PAXG) a security?
Unclear. A token representing physical gold held by an issuer. It's not a crypto-network token, and no official US classification under the CLARITY Act framework was found. No court or regulator has classified it, so we don't guess. Not legal advice.
Can I buy PAXG on US exchanges?
US access: Coinbase (US incl. NY). Availability can differ by state and by exchange. See our exchange safety checker.
What would the CLARITY Act change for PAXG?
There's no official US classification yet, so treatment could go either way. Watch for SEC or CFTC statements and exchange listing changes. Pro alerts flag these for you.
How reliable is this PAXG status?
Confidence is Low. It comes from fixed rules applied to 4 cited sources (checked Oct 19, 2026), not from opinion. Statuses can change as courts, regulators and Congress act.
Change log
3 entries
- Status reviewEvidence-based review: status set to 'Unclear' (Low confidence) using ClarityCheck rules. Replaces earlier illustrative demo data.
- PAXG is not among the SEC's named examples of digital commodities in the March 2026 interpretation. Source ↗
- Paxos says PAXG is issued by Paxos Trust Company, N.A. under OCC oversight. Each token represents one fine troy ounce of gold. Source ↗
Snapshot Oct 19, 2026 · Prices by CoinGecko