Cryptocurrency firm Paxos will cease issuing new Binance USD, or BUSD, stablecoins under the direction of New York state’s financial regulator, Binance founder Changpeng Zhao said Monday. Paxos’ own stablecoin was not impacted.
Binance, the world's largest crypto exchange, will suspend deposits and withdrawals in US dollars, the company said on Monday, without giving a reason for the decision.
