Coinbase Suspends BUSD Trading After Stablecoin Fails Listing Requirements

Cryptocurrency exchange Coinbase COIN announced on Monday that it will suspend trading in the Binance USD BUSD/USD stablecoin on March 13 this year, due to non-compliance with requirements platform quotation.

The decision was made following a recent review of listed assets, in which it was found that BUSD did not meet the criteria for inclusion.

Coinbase has stated that it regularly monitors assets on its platform to ensure they meet its listing standards.

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The suspension of BUSD trading will take effect at or around 12pm ET.

BUSD is a US dollar-pegged stablecoin that was launched by Binance, another major cryptocurrency exchange, in 2019.

It is one of several stablecoins that have gained popularity in recent years due to their relatively low volatility and ability to maintain stable value.

According to Coinbase, users will be able to access and withdraw their BUSD funds at any time despite the suspension of trading on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

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