Cryptocurrency exchange Coinbase warned customers Monday the company will suspend trading for Binance USD in less than a month, two weeks after Paxos Trust disclosed it will stop minting the Binance-branded stablecoin, citing regulatory pressure. Coinbase’s announcement follows a recent internal review, the San Fransisco-based exchange stated on Twitter, adding it will suspend BUSD trading on March 13. “Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes,” a Coinbase spokesperson told Decrypt. “When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended.” Earlier this month, Paxos said it would “end its relationship with Binance” ahead of a lawsuit from the Securities and Exchange Commission over issuing BUSD–which aims to track the price of the dollar through reserves of financial assets. The SEC plans to sue Paxos for violating investor protection laws, the company confirmed to Decrypt.
Read more : Coinbase to Delist Binance USD Stablecoin Amid Regulatory Scrutiny.
