Founder of US-based cryptocurrency exchange Coinbase Brian Armstrongthe stock market BUSD He spoke to the press for the first time after suspending the stablecoin.
The crypto trading platform announced in an official statement during the week that it will suspend Binance-linked stablecoin BUSD in the coming days. According to the announcement, Coinbase has released the token in question. “for not meeting listing standards” takes it off the platform.
Following the announcement, CEO Brian Armstrong answered questions on a Bloomberg television show today. The Coinbase founder gave a clearer explanation of the BUSD event.
“The reason we made this decision is based on recent events. We wouldn’t have delisted if US entities hadn’t given BUSD issuer Paxos a cease and desist order. We are concerned that our customers are facing liquidity problems.”
Investigation Coming to Paxos?
The New York Department of Financial Services (NYDFS) has requested stable crypto-asset issuer Paxos to cease issuing BUSD tokens, citing their relationship with Binance. Paxos In response to this demand, it ended its work on the BUSD supply.
It is alleged that the Securities Commission SEC will sue Paxos in the coming days for the same reason as Ripple.
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