Cryptocurrency Q&A
Is Paxos no longer issuing busd?
Is Paxos no longer issuing busd?
Raffaele
Sat Jun 29 2024
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6 answers
877
Recently, there have been whispers in the crypto community that Paxos, a well-known digital asset issuer, has ceased issuing BUSD, a popular stablecoin pegged to the US Dollar. This has raised a number of concerns among investors and traders alike, as BUSD plays a crucial role in the decentralized finance ecosystem. Could you clarify if Paxos has indeed stopped issuing BUSD? If so, what are the reasons behind this decision? How will this impact the liquidity and stability of BUSD? And what alternatives do investors have if they were relying on Paxos for their BUSD supply? Clarifying these points would greatly help us understand the current situation and make informed decisions in this rapidly evolving crypto landscape.
6 answers
Eleonora
Mon Jul 01 2024
The decision comes as a result of close coordination with the New York Department of Financial Services (NYDFS) and follows their directives.
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RainbowlitDelight
Mon Jul 01 2024
Paxos, in a statement, emphasized that it is committed to compliance with all relevant regulations and will continue to prioritize the safety and security of its customers.
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SolitudeEcho
Mon Jul 01 2024
Alongside the cessation of new BUSD issuance, Paxos also stated that it will end its relationship with Binance for the branded stablecoin.
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GwanghwamunPride
Mon Jul 01 2024
Paxos, a leading digital asset platform, has announced that it will cease the issuance of new Binance USD (BUSD) tokens effective February 21.
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BlockchainBrawler
Mon Jul 01 2024
This move highlights Paxos' commitment to maintaining a robust regulatory framework and ensuring the stability of the digital asset ecosystem.
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