BUSD trading would be suspended by Coinbase on March 13
February 27, 2023 6:50 PM
The bitcoin exchange from San Francisco mentioned their "listing standards" in a tweet.
Coinbase will cease trading in the Binance USD (BUSD) stablecoin on March 13, the exchange stated on Twitter on February 27. The message highlighted "listing standards" in its decision announcement.
According to the tweet thread, the decision will apply to Coinbase.com (basic and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. "Your BUSD money will remain accessible to you, and you will continue to have the ability to withdraw your cash at any moment," the exchange noted.
A Coinbase representative informed Cointelegraph:
"Our determination to cease trading for BUSD is based on our own internal monitoring and review processes. We found that BUSD no longer matched our listing standards and will be suspended after examining it."
The Coinbase website states that its digital asset listings committee votes on assets to be listed on the exchange "informed by a rigorous vetting/review process that analyzes assets against legal, compliance, and technological security requirements." In addition, additional business assessments and continual monitoring are performed to verify that an asset continues to fulfill standards.