American cryptocurrency exchange Coinbase announced the suspension of trading of the stablecoin Binance USD (BUSD) 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
We have disabled Binance USD (BUSD) trading. Your funds in BUSD will continue to be accessible, and you will still have the ability to withdraw them at any time.
On Feb. 27, Coinbase cited “quotation rulesas the reason behind their decision to disable BUSD trading on March 13. The February announcement stated:
“We regularly monitor our exchange’s assets to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading in Binance USD (BUSD) on March 13, 2023, around 12pm ET.”
According to Coinbase’s Twitter thread on Feb. 27, the decision to disable BUSD trading will apply to Coinbase.com (Simple and Advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. On March 13, Coinbase assured its clients that “BUSD funds will continue to be accessible to you, and you will still have the ability to withdraw the funds at any time.”
On February 27, when Coinbase announced its intention to deactivate BUSD trading on March 13, a A Coinbase spokesperson explained to Cointelegraph:
“Our determination to delist BUSD is based on our own internal monitoring and review processes. In reviewing BUSD, we have determined that it no longer meets our listing standards and will be delisted.”
The 8th of March, Coinbase introduced a new enterprise solution called wallet-as-a-service (WaaS) to help businesses offer Web3 wallets to their customers. WaaS provides customizable on-chain wallets through a technical infrastructure that allows companies to create and run these wallets. In addition, the wallet application programming interface (API) offered by the WaaS solution allows companies to create wallets for simple customer onboarding, loyalty programs or in-game purchases.
On March 11, Coinbase assured its clients that its staking services will continue and “in fact may increase,” despite the recent crackdown by the United States Securities and Exchange Commission (SEC) against the staking services offered. by centralized providers.
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