Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset $BUSD.
The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD.On Feb. 27, 2023, Coinbase announced that it will suspend trading of binance usd following a recent regulatory crackdown on the stablecoin by the New York State Department of Financial Services on February 13.indicated that the U.S. Securities and Exchange Commission sent Paxos a Wells Notice regarding BUSD on that day.
“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for [binance usd] on March 13, 2023, on or around 12pm ET,” the company said in apublished on Monday. “Trading will be suspended on Coinbase.com , Coinbase Pro, Coinbase Exchange, and Coinbase Prime.”
Several crypto supporters commented on Coinbase’s suspension of BUSD. “Will you suspend USDC when Gary comes for that too?” one person
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