Crypto exchange Coinbase announced that it would suspend trading its rival’s stablecoin Binance USD (BUSD) as of March 13.
The suspension will cover Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
- In the announcement, the U.S.-based crypto exchange cited that BUSD no longer meets its listing standards.
- The platform also said the decision was made as a result of its recent internal monitoring and review processes.
- Users will still be able to access and withdraw their BUSD funds whenever they choose.
- Following the news, the Binance coin (BNB) decreased by over 1%.
- Earlier in February, the stablecoin issuer Paxos also announced that it would halt issuing BUSD at the direction of the New York Department of Financial Services (NYDFS).
- The move followed a notice from the U.S. Securities and Exchange Commission (SEC) stating that the regulator listed BUSD as an unregistered security.
