Coinbase to Suspend Binance USD Stablecoin, Saying It Doesn’t Meet Listing Standards

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.”

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

Source