Coinbase announces suspension of BUSD trading beginning March 13

Coinbase will stop trading the Binance USD (BUSD) stablecoin on March 13, the exchange announced on Twitter on February 27. The message referred to “listing criteria” in announcing its decision.

According to the tweet thread, the decision applies to Coinbase.com (simple and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Your BUSD funds will still be accessible and you can withdraw your funds at any time, the exchange added.

A Coinbase spokesperson told Cointelegraph:

Our decision to suspend trading of BUSD was based on our own internal oversight and review process. Upon reviewing BUSD, we found that it did not meet our listing criteria and was suspended. rice field.”

According to Coinbase’s website, its Digital Asset List Group will be listed on the exchange “informed by a rigorous vetting/review process that evaluates assets against legal, compliance, and technical security standards.” Vote for assets that Additionally, there are additional business assessments and ongoing monitoring to ensure assets continue to meet standards.

Regularly monitor exchange assets to ensure they meet listing standards. According to the latest review, Coinbase will suspend trading of his Binance USD (BUSD) on or around March 13, 2023 at 12pm.

Coinbase Assets (@CoinbaseAssets) February 27, 2023