Coinbase CEO Brian Armstrong said the exchange decided to suspend trading of Binance USD (BUSD) because the company had concerns about its liquidity.
Coinbase CEO Armstrong: We Delisted BUSD Due to Liquidity Concerns
Crypto Lobbying Needs a Reset: More FTC, less SEC
Of all the Securities and Exchange Commission’s actions against crypto entities that have stirred the industry’s ire, the agency’s recent move forcing New York-based Paxos to cease issuing its partner Binance’s BUSD stablecoin is the most deserving of an outcry. How, critics rightfully asked, can a token that’s explicitly designed not to fluctuate in price be considered a security?
Paxos is engaged in ‘constructive discussions’ with SEC: Report
The stablecoin issuer is currently facing a lawsuit from the SEC in which the financial regulator claimed BUSD was an unregistered security.
Paxos Is Holding a ‘Constructive Discussion’ With SEC: Reuters
News of the talks comes a week after Paxos said it received a Wells Notice from the regulator.
The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20
The United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD. That could affect the whole stablecoins ecosystem.
Coinbase Exec: US Congress Needs to ‘Step Up’ Its Crypto Regulatory Efforts
Faryar Shirzad, chief policy officer at the exchange, said the exchange would “love to register” its two dormant broker deals, but the reality is no clear direction has been provided by lawmakers on Capitol Hill.
Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals
Tether’s USDT has seen its market capitalization rebound to nearly $70 billion as the SEC ordered Paxos to stop issuing BUSD, the third-largest stablecoin.
Tether USDT Gains $1 Billion as Paxos Burns Over $1.8B of Binance USD Stablecoins
The increase comes as BUSD issuer Paxos faces increasing regulatory scrutiny.
State of Crypto: Interpreting the Paxos-Binance Tea Leaves
Remember how the U.S. Securities and Exchange Commission’s declaration of war against crypto staking was big news for like two days? This week we’re looking at the other big news from last week: Paxos and the Binance USD stablecoin it issues. The SEC has apparently alleged the sale of BUSD violates securities laws, and the New York Department of Financial Services has asked Paxos to cease issuing the token.
Former Paxos Exec: Regulators Failed to Address Crypto Collapses, Now They’re Going After ‘On-Ramps’
Jesse Austin Campbell, former head of portfolio management at the firm, says that because regulators did not adequately address the collapses of Celsius Network, Terra Luna and FTX, they are now in pursuit of on-ramps to get to Binance.
The SEC Is Taking Aim at Paxos and (Annoyingly) It’s Good For Bitcoin
3 reasons why Binance’s BNB token risks sliding further by March
A slew of technical, fundamental and on-chain indicators hint at more pain for BNB’s price in February.
BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments
Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin.
Former SEC Chief Counsel Says Agency Needs to Make Clear Its Crypto Compliance Rules
TuongVy Le, a partner and head of regulatory & policy at investment firm Bain Capital, says the agency is refraining from passing a rules-based framework and has to make it clear what digital assets it would deem compliant under its jurisdiction.
Stablecoins Are Not New. So Why Are Regulators Attacking Paxos?
Investors Rush to Tether as Paxos’ BUSD Faces Regulatory Heat, Curve Liquidity Pools Show
Investors are fleeing the Paxos-issued stablecoin even though the firm gave assurances it is fully backed and will be wound down in an orderly manner, one observer said.
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos.
Binance withdrawals and BUSD redemptions surge post Paxos crackdown
Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that “Funds are SAFU.”
Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Paxos said it will engage with the US securities regulator on the matter and is prepared to “vigorously litigate if necessary.”
Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange
Binance has endured some $828 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November, surpassing the withdrawal surge in December amid fears about Binance’s reserves.
