Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home General News

Coinbase Rejects BUSD: Failed to Meet Listing Standards

James by James
February 27, 2023
in General News
Reading Time: 2 mins read
A A
0
Coinbase Rejects BUSD- Failed to Meet Listing Standards
Share on FacebookShare on Twitter
ADVERTISEMENT

Effective March 13, Coinbase will discontinue trading of Binance USD (BUSD) on its cryptocurrency exchange.
Paxos, a company specializing in digital assets, has issued this stablecoin in partnership with Binance, a major competitor of Coinbase. Customers will be able to withdraw their BUSD balances at any time. The controversial Binance-related stablecoin issuance was abruptly halted after being ordered to do so by the New York State Department of Financial Services (NYSDFS).

Paxos claims to have received a letter from the Securities and Exchange Commission (SEC) indicating that the powerful regulator is thinking about recommending an action claiming that BUSD is a security. Therefore, Paxos would have to comply with federal securities laws and register the distribution of the controversial stablecoin.

It would have far-reaching effects on the burgeoning stablecoin market if the SEC took action against Paxos and deemed BUSD unregistered security. It’s possible that other stablecoin issuers will need to follow Paxos’s lead and register with the SEC, or face the prospect of a legal battle. The Howey test will be used to determine whether BUSD is an investment contract, which could result in stricter regulation.


Paxos has stated that it is willing to take the SEC to court to defend its position that BUSD is not a security under federal securities laws. But there are a number of possible outcomes, including Paxos settling with the SEC and admitting that BUSD is a security, which would likely cause other stablecoin issuers to follow Paxos’ lead and register. Alternatively, the SEC may mandate transparency from digital currency issuers by regulating the underlying assets of stablecoins.

You May AlsoLike

How To Generate Passive Income With Index Funds And ETFs

How To Generate Passive Income With Index Funds And ETFs

September 19, 2023
Singapore Has Banned The Founders Of Three Arrows Capital From Trading For 9 years

Singapore Has Banned The Founders Of Three Arrows Capital From Trading For 9 years

September 14, 2023
Tags: BinanceBUSDcoinbasedelistingpaxos
Share77Tweet48
ADVERTISEMENT
Previous Post

NanoLabs Takes Coinbase to Court over Trademark Violation

Next Post

Mastercard and Visa Put Crypto Plans on Hold as Market Downturn Continues

James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

Related Posts

How To Generate Passive Income With Index Funds And ETFs
General News

How To Generate Passive Income With Index Funds And ETFs

September 19, 2023
Singapore Has Banned The Founders Of Three Arrows Capital From Trading For 9 years
General News

Singapore Has Banned The Founders Of Three Arrows Capital From Trading For 9 years

September 14, 2023
Check Out These 7 Major Crypto Token Unlocks This Week
General News

Check Out These 7 Major Crypto Token Unlocks This Week

September 11, 2023
BitGo And A South Korean Banking Giant Partner To Make Cryptocurrency More Accessible
General News

BitGo And A South Korean Banking Giant Partner To Make Cryptocurrency More Accessible

September 5, 2023
US SEC Postpones All 7 Bitcoin ETF Applications; What Next?
Bitcoin News

US SEC Postpones All 7 Bitcoin ETF Applications; What Next?

September 1, 2023
Crypto Peer-to-Peer (P2P) Scams In India Highlight Urgent Need For Digital Asset Education
General News

Crypto Peer-to-Peer (P2P) Scams In India Highlight Urgent Need For Digital Asset Education

September 1, 2023
Next Post
mastercard and visa halting crypto integrations

Mastercard and Visa Put Crypto Plans on Hold as Market Downturn Continues

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    200 shares
    Share 80 Tweet 50
  • Shiba Inu (SHIB) Records 5% Jump as Shibarium Pessimism Fades Away

    194 shares
    Share 78 Tweet 49
  • Elon Musk’s Silence And Its Impact On DOGECOIN

    194 shares
    Share 78 Tweet 49
  • Grayscale vs. SEC Decision Boosts XRP

    194 shares
    Share 78 Tweet 49
  • DogeCoin Soars With Elon Musk’s Latest Move

    194 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.