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Coinbase To Halt Trading of Binance’s BUSD for Not Meeting Listing Standards

Coinbase will suspend trading of Binance USD (BUSD) on March 13 at around noon EST.

The crypto exchange said the decision was based on its most recent review of the stablecoin, which Paxos recently stopped issuing following an order from a New York regulator.

Customers will still have access to and be able to withdraw BUSD funds. However, trading will be suspended on Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, the exchange said.

Paxos got a Wells notice from the U.S. Securities and Exchange Commission (SEC) earlier this month alleging that it listed BUSD as an unregistered security. The stablecoin issuer said it "categorically disagrees" with the SEC's categorization but is in "constructive discussions" with the regulator. It also cut ties with Binance.

Coinbase Binance Paxos
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