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Coinbase suspends Binance stablecoin

Coinbase suspends Binance stablecoin

Coinbase is delisting the Binance USD (BUSD) stablecoin, saying that the rival exchange's offering does not meet internal listing standards.

Trading in BUSD will be suspended on March 13 on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

Coinbase has its own native stablecoin, USDC.

BUSD is under regulatory scrutiny, with the New York Department of Financial Services recently telling blockchain infrastructure provider Paxos to stop minting the stablecoin.

The SEC has also warned Paxos that it is "considering recommending an action alleging that BUSD is a security and that Paxos should have registered the offering of BUSD under the federal securities laws".

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