(background supplement:Newsletter” Binance confirmed! The United States has ordered Paxos to stop issuing BUSD ）
existThe United States issued a notice of prosecution against the BUSD issuer Paxos in the early hours of this morning, and after the New York Department of Financial Services ordered to stop the new minting of BUSD in the afternoon, the trading platform Binance, which is mainly used as BUSD, also felt the market pressure. $288.5.
Its CEO, Changpeng Zhao, tweeted earlier that Paxos will continue to provide services and manage the redemption of BUSD, and that Paxos assured Binance that its fund reserves are safe and its reserves have been audited by multiple auditing companies repeatedly. CZ also mentioned that because BUSD is currently in a regulatory situation and cannot mint new coins, Binance will abandon BUSD as the main token for trading pairs at the moment:
Binance will continue to support BUSD for the foreseeable future. We do foresee users migrating assets to other stablecoins over time. We will make product adjustments accordingly. For example, BUSD is no longer used as the main currency for trading pairs, etc.
7/ Binance will continue to support BUSD for the foreseeable future. We do foresee users migrating to other stablecoins over time. And we will make product adjustments accordingly. eg, move away from using BUSD as the main pair for trading, etc.
— CZ 🔶 Binance (@cz_binance) February 13, 2023
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