US-based cryptocurrency exchange Coinbase announced the suspension of trading for the Binance USD (BUSD) stablecoin on March 13 via Twitter.
We have disabled trading for Binance USD (BUSD). Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/jfpCZX7UTC
— Coinbase Assets (@CoinbaseAssets) March 13, 2023
On Feb 27, Coinbase cited “listing standards” as the reason behind its decision to disable trading for BUSD on March 13. The February announcement read;
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Binance USD (BUSD) on March 13, 2023, on or around 12pm ET.
According to Coinbase’s Feb 27 Twitter thread, the decision to disable trading for BUSD will apply to Coinbase.com (simple and advanced), Coinbase Pro, Coinbase Exchange and Coinbase Prime. On March 13 Coinbase assured its customers “ Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.”
On Feb 27, when Coinbase initially announced its intention to disable trading for BUSD on March 13,
“Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes. When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended.”
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Also, Read Binance News about BUSD here.
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