Coinbase will cease Binance USD (BUSD) trading on March 13 at roughly noon EST. The crypto exchange stated that the decision was based on its most current examination of the stablecoin, which Paxos recently discontinued issuing in response to a New York regulator’s directive.
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
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.
Customers will still have access to and be able to withdraw BUSD funds. However, trading will be suspended on Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, the exchange said.
The US Securities and Exchange Commission (SEC) issued a Wells notice to Paxos earlier this month, saying that it classified BUSD as an unregistered security. The stablecoin issuer stated that it “categorically disagrees” with the SEC’s classification but that it is in “constructive discussions” with the regulator. It also severed connections with Binance.
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