Coinbase will suspend trading in the stablecoin Binance USD (BUSD) on March 13, the exchange announced on Twitter on February 27. The message mentioned “listing rules” when announcing its decision.
The decision will apply to Coinbase.com (simple and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime, according to the tweet thread. The exchange added: “Your BUSD funds will continue to be accessible to you, and you will still have the ability to withdraw your funds at any time.”
A Coinbase spokesperson told Cointelegraph:
“Our determination to suspend BUSD trading is based on our own internal monitoring and review processes. Upon review of BUSD, we determined that it no longer met our listing standards and will be suspended.”
According to the Coinbase website, its digital asset listings team votes on assets to list on the exchange, “informed by a rigorous vetting/review process that evaluates assets against legal, compliance, and technical security standards”. In addition, there are additional business assessments and ongoing monitoring to ensure that an asset continues to meet standards.
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.
— Coinbase Assets (@CoinbaseAssets) February 27, 2023
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 Binance USD (BUSD) on March 13, 2023, at 12:00 p.m. ET.
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