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Coinbase to Suspend Binance USD Stablecoin, Saying It Doesn’t Meet Listing Standards
The suspension affects Coinbase.com, Coinbase Pro, Coinbase Exchange and Coinbase Prime.
Coinbase will suspend trading of Binance USD (BUSD) starting March 13 because the stablecoin doesn’t meet its listing standards, the U.S. cryptocurrency exchange announced in a tweet Monday.
“Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes,” a spokesperson told CoinDesk. “When reviewing BUSD we determined that it no longer met our listing standards and will be suspended.”
STORY CONTINUES BELOW
The suspension affects Coinbase.com, Coinbase Pro, Coinbase Exchange and Coinbase Prime. Users will still be able to access their BUSD funds and withdraw them at any time, Coinbase said.
Binance coin (BNB), the exchange token of Binance, dropped 1% after the news, and was trading at $302.57 at press time.
See also: Paxos to Stop Minting Stablecoin BUSD Following Regulatory Action
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
