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24h Vol: $73,962,489,395
Seeking Alpha 2023-02-27 17:30:56

Coinbase Global to suspend Binance USD stablecoin in March

Coinbase Global to suspend Binance USD stablecoin in March
Cryptocurrency exchange Coinbase Global ( NASDAQ: COIN ) said Monday it will suspend trading for Binance USD ( BUSD-USD ) because the stablecoin doesn't meet its listing standards. "We regularly monitor the assets on our exchange to ensure they meet all listing standards," the company said via tweet. "Based on our most recent reviews, Coinbase will suspend trading for Binance USD ( BUSD-USD ) on March 13, 2023 on or around 12pm ET." A Coinbase ( COIN ) declined to explain which listing standards weren't met. The company posts on its website a document that details its listing prioritization process and standards. (Added 12:36 PM ET.) Earlier in February, Paxos Trust was ordered by the New York Department to stop mining BUSD ( BUSD-USD ). In addition, the SEC is reportedly looking to sue Paxos over breaching investor protection laws.
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