Binance’s BUSD Was Once a Top Stablecoin, But Now Rendered Obsolete by Regulations
Following the demise of BUSD, both USDT and USDC gained more inflows than other alternatives combined.
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
Paxos announced it is preparing to leave Canada, and urged its Canadian users to withdraw their funds as soon as possible.
Following the demise of BUSD, both USDT and USDC gained more inflows than other alternatives combined.
Paxos recently confirmed it had received a Wells notice from the SEC and stated it is willing to fight the allegation that BUSD is a security.
Circle, best known as the issuer of USDC, reportedly triggered the investigation of Paxos by filing a BUSD-related complaint in late 2022.
New York financial regulator has ordered Paxos to stop issuing the dollar-pegged BUSD.
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As USDC, Tether, Paxos, and TrueCurrency battle to be as open as possible, all investors win.
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