In comments to the media, the American cryptocurrency platform team shared concerns that the future of the BUSD stablecoin, the native asset of the Binance exchange, is in big doubt. Especially after the US Securities and Exchange Commission (SEC) joined the requirement to ban the issuance of BUSD by the New York State Department of Financial Services (NYDFS). The SEC has issued a notice of possible prosecution to Paxos, the actual issuer of the BUSD stablecoin, for violating securities laws.
The administration of the Coinbase exchange, for a combination of reasons, decided to delist BUSD from its platform.
“We regularly monitor assets to ensure they meet our listing standards. Based on our latest observation, Coinbase will suspend trading on Binance USD (BUSD) on March 13 at approximately 12:00 pm ET,” the trading floor said.
Coinbase explained that after the suspension of stablecoin trading, BUSD assets will remain available to users who can withdraw these assets at any time.
Previously, the AAVE DeFi community unanimously supported a freeze of all BUSD reserves in the Ethereum Aave V2 pool. The decision entered into force on February 27.
Source: Bits
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