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Coinbase, the largest crypto exchange in the US in terms of trading volume, has issued a notification about the upcoming delisting of Binance USD stablecoins.
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In the comments for the media, the team of the AmericanThe cryptocurrency platform shared concerns that the future of the BUSD stablecoin, the native asset of the Binance exchange, is in big doubt. Especially after the requirement to ban the issuance of BUSD by the New York State Department of Financial Services (NYDFS), joined
US Securities and Exchange Commission (SEC).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 ensuremake sure 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 DeFi community AAVE unanimously
supported the freezing of all BUSD reserves in the Ethereum Aave V2 pool. The decision entered into force on February 27.