Coinbase announces suspension of BUSD trading beginning March 13

Mar 20, 2023 | wjb news

Coinbase announced on Twitter on February 27th that Coinbase will suspend Binance license on March 13. (BU.S.) Stable currency trading. The content of this message mentioned that its "listing criteria" was behind the decision. Busd is the third most stable company by market capitalization.

According to the tweet, this decision applies to (simple and high-end), Coinbase Pro, Coinbase Exchange and Coinbase Prime. The trading center added, "you can still use your bitwise assets, and you will continue to have the strength to acquire assets anytime, anywhere."

A spokesman for Coinbase told Cointelegraph:

"my decision to stop buying and selling US dollars against US dollars is based on our own internal structural monitoring and review process. During the review of BYD, it was clear that it would no longer meet our own listing standards and would be suspended.

Binance didn't immediately respond to requests for comment.

According to the Coinbase website, its data asset inventory working group voted on the assets to be listed on the trading center, "based on the rigorous review / review process, the assets are evaluated against legal, compliance management and technical testing standards." In addition, there are additional business process assessments and ongoing supervision to ensure that assets once again comply with the regulations.

It is reported that the Securities and Exchange Federation of the United States has issued a Wells Fargo notice to Paxos Trust, a blockchain infrastructure service platform, on February 12-a notice on the adoption of law enforcement actions. The Financial Services Center of New York State ordered Paxos to stop issuing BU.S., on February 13th, shrinking its total market capitalization by $2 billion in a few days.

The next day, Coinbase posted on Twitter: "No one knows which aspects of YD might be interested in by the Securities and Exchange Federation of America." What we all understand is that stable investment is not securities.

Parksos is reported to have held "global" talks with SEC on February 21st.