Coin Gabbar Token

<p>Coinbase has announced that it will suspend trading Binance USD (BUSD) on March 13 due to an internal investigation.</p><h2 id="header-0">The cryptocurrency exchange will stop trading Binance USD (BUSD) on March 13 as a result of an internal examination, according to the most recent Coinbase news.</h2><p>As a consequence of an internal inquiry, Coinbase Global Inc., the biggest cryptocurrency exchange in the United States, recently stated that it will ban trading of Binance&#39;s native stablecoin, <a href="https://www.coingabbar.com/en/crypto-currency/binance-usd-busd-prices-usd" rel="noopener noreferrer nofollow">BUSD</a>. This comes after Paxos, the business that produces BUSD, was recently ordered to stop producing more of Binance&#39;s dollar-pegged stablecoin by the New York Department of Financial Services (NYDFS), which recently put severe controls on the company. As a result, Binance is currently confronted with a number of regulatory difficulties in the country.</p><h3 id="coinbase-suspends-trading-in-busd">Coinbase suspends trading in BUSD</h3><p>Coinbase recently revealed in a tweet that they regularly check the exchange&#39;s assets to make sure they meet their listing requirements. The exchange has consequently decided to halt trading in the Binance-issued stablecoin BUSD as a result of this assessment and subsequent reviews.</p><p>For all platforms, including Coinbase Pro, Coinbase Exchange, and Coinbase Prime, and for all levels of trading, including simple and advanced, trading will be suspended, according to Coinbase. But, consumers will continue to have access to their funds and be able to withdraw them whenever they want. The suspension will occur on March 13, 2023, at or around 12 o&#39;clock in the afternoon Eastern Time (ET).</p><h4>The Stablecoin War</h4><p>The U.S. <a href="https://www.coingabbar.com/en/crypto-currency-news/xrp-lawyer-demands-probe-may-harm-us-sec-chairs-career" rel="noopener noreferrer nofollow">Securities and Exchange Commission</a> (SEC) issued a Wells Notice against Paxos, alleging that the company&#39;s Binance USD (BUSD) is an unregistered security, leading to the New York financial regulator&#39;s judgement. A &#34;Wells Notice&#34; is a letter that the SEC sends to people or businesses when it is thinking of suing them.</p><p>Many believe that Circle, the company that created the USDC stablecoin, gave the U.S. government the tip. This comes after Binance allegedly stopped supporting USDC and started converting the cryptocurrency into BUSD automatically before the end of 2022. This action has a significant negative impact on the company&#39;s once-dominant stablecoin market share. Being one of Circle&#39;s original members, Coinbase collaborated with them to create the USDC stablecoin.</p>

Binance BUSD Suspended by Coinbase

Table of Contents

Coingabbar

Other articles published on Feb 28, 2023

Wemade announced a strategic investment in HwikGo, a smart mobility service platform firm

BTC, ETH, and SOL Top List of LunarCrush’s Social Engagement in Feb

MyAlgo Users Urged to Withdraw as Cause of $9.2M Hack Remains Unknown

MMSDK Features: Asset Management

Bitcoin 101: Intro to Crypto Wallets

An Introduction to Synthetix Network

Join our free newsletter for daily crypto updates!