💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Coinbase Suspends BUSD Trading After Stablecoin Fails To Meet Listing Requirements

Published 27/02/2023, 18:25
© Reuters.  Coinbase Suspends BUSD Trading After Stablecoin Fails To Meet Listing Requirements

Benzinga - Cryptocurrency exchange Coinbase (NASDAQ: COIN) on Monday announced that it will suspend trading of stablecoin Binance USD (CRYPTO: BUSD) on March 13 this year, due to non-compliance with the platform's listing requirements.

The decision was made following a recent review of assets listed on the exchange, in which BUSD was found to fall short of the criteria for inclusion.

Coinbase stated that it regularly monitors the assets on its platform to ensure that they meet its listing standards.

See Also: Platypus Finance Hacking Suspects Arrested By French Police: Here's How They Were Identified

The suspension of BUSD trading will take effect on or around 12pm ET.

BUSD is a stablecoin pegged to the US dollar that was launched by Binance, another major cryptocurrency exchange, in 2019.

It is among several stablecoins that have gained popularity in recent years due to their relatively low volatility and ability to maintain a stable value.

According to Coinbase, users will be able to access and withdraw their BUSD funds at any time despite the suspension of trading on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

Next: Huobi, KuCoin Under Scrutiny For Doing Business With Russian Banks - Report

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.