Coinbase drops Binance USD stablecoin, SEC crackdown to blame

Coinbase follows the SEC's lead by discontinuing trading of Binance USD stablecoin, while Paxos stands firm in the face of federal securities registration pressure.

Coinbase will put an end to trading in the Binance USD stablecoin, amid pressure from the US Securities and Exchange Commission (SEC) on the stablecoin industry.

- Advertisement -

Trading in Binance USD from the cryptocurrency exchange will stop on March 13, according to a statement from the company.

Last week Paxos said it was in “constructive discussions” with the SEC following the committee’s letter to the company regarding the need for BUSD to register BUSD under federal securities laws.

Paxos says it will defend its position that BUSD should not be registered as a security, according to an email sent by the company’s CEO, Charles Cascariya, to Paxos employees.

Read Next

Previous Articles:

- Advertisement -

Latest

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

Must Read

Top 9 VPNs That Accept Bitcoin And Crypto

CyberGhost | FastVPN | TorGuard | Private Internet Access | ExpressVPN | NordVPN | Private VPN | SurfShark | AirVPN | Why Buy VPN...