Coinbase suspends Binance stablecoin


Coinbase is delisting the Binance USD (BUSD) stablecoin, saying that the rival exchange's offering does not meet internal listing standards.

Trading in BUSD will be suspended on March 13 on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

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 (BUSD) on March 13, 2023, on or around 12pm ET. — Coinbase Assets (@CoinbaseAssets) February 27, 2023

Coinbase has its own native stablecoin, USDC. BUSD is under regulatory scrutiny, with the New York Department of Financial Services recently telling blockchain infrastructure provider Paxos to stop minting the stablecoin. The SEC has also warned Paxos that it is "considering recommending an action alleging that BUSD is a security and that Paxos should have registered the offering of BUSD under the federal securities laws".


By on Tue, 28 Feb 2023 13:31:00 GMT
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