Brain Armstrong, CEO of Coinbase, the largest US crypto exchange, explained why they delisted Binance USD (BUSD).
CEO Brain Armstrong told Bloomberg on March 1. of BUSD He made statements about the reason for delisting and the future of the crypto industry. Armstrong, to live liquidity problems While stating that they made a delist decision on BUSD due to USA-Paxos pointed to the tension between
Coinbase, which took the first step towards the BUSD delist, after issuer Paxos withdrew its BUSD support as a result of US pressure, that under these circumstances, BUSD no longer meets the listing standards. stressed.
We did this because Paxos, the issuer of BUSD, was ordered to stop printing BUSD. Therefore, we were concerned about liquidity issues for our clients.
On the other hand, Coinbase’s statement that the staking product is not a security problem Armstrong, who defended himself, stated that their priority as a company is to work in cooperation with regulatory authorities, but they are ready to go to court to defend themselves if necessary.
My number one priority this year will be the policy environment. The rest of the world has actually embraced crypto. We have seen all major financial centers, Singapore, Hong Kong and London, and the EU adopt comprehensive crypto legislation. We need a clear rulebook so that this industry can be built here.
Armstrong also criticized US regulatory agencies. In the process, the US side compared to the rest of the world Stating that he has moved away from embracing the crypto industry, the CEO said, that this industry is not going anywhere underlined.
Many traditional financial services firms are integrating this technology. Everyone from JPMorgan, Visa and Mastercard to Franklin Templeton has projects and teams working on how to integrate crypto into their services. The cryptocurrency industry is not going anywhere.