Regulatory Pressure From USA Affected This Altcoin The Most!

US regulators cryptocurrencycontinues to increase the pressure on them. In this context, the last move Binancestablecoin of BUSDdid against.

Regulators BUSD issuer Paxosnew to BUSD He asked them to stop printing. Because regulators argue that BUSD is an unregistered security.

Binance’s native token after legal move against BUSD BNB also affected.

BNB bitcoinWhile continuing to depreciate against BNB/BTC rate fell to 0.1257 from 0.1970, in November 2022, after FTX’s bankruptcy.

According to the news of Coindesk, the Paris-based software company kaiko He covered this drop in the BNB/BTC ratio in his weekly report.

“BNB also underperformed in the broad market in February as the Paxos-BUSD situation continued to see large outflows from BUSD last week and put pressure on the Binance exchange.

The BNB/BTC price ratio, which measures the relative performance of the two cryptocurrencies, has dropped to its lowest level since November 2022.”

Kaiko analysts from BNB bitcoinHe pointed out that this may be due to the belief that regulatory pressure on BUSD is actually a move against Binance.

Alex Thorn of Galaxy Research also commented on the Paxos-BUSD event with these words:

“Since the NYYDFS and SEC sent notices to Paxos specifically for the BUSD product, not the Pax Dollar, it means that the regulatory sanction was directed only at BUSD rather than a broad attack on stablecoins in general.

This suggests that regulators are targeting Binance specifically, at least at the moment, rather than stablecoins in general.”

*Not investment advice.

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