US’s largest cryptocurrency exchange Coinbase, is looking to dissociate itself from the issuer of Binance USD stablecoin amid the current regulatory crackdown.
As per Coinbase’s announcement on Monday, the exchange will delist and suspend the trading of Paxos’s BUSD.
This move came weeks after the New York regulators ordered Paxos to stop minting BUSD.
“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,” Coinbase wrote in a post.
Paxos has also announced plans to end its relationship with Binance, the world’s largest crypto exchange, ahead of its lawsuit with the US regulators on whether or not it violates consumer protection laws.
Binance in order to protect itself from being affected by the current regulatory crackdown, has said that it is considering the possibility of severing ties with its US partners, including the Binance USD issuer Paxos.
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