Binance halts BUSD trading

Binance is ending support for the old stablecoin BUSD. Users can still redeem it until Dec. 15, 2023. The crypto exchange announced this some time ago.

The date for ending support is getting closer and closer. The stablecoin will be removed on December 15, 2023. Until then, all users must exchange their BUSD for other coins. In doing so, they name BUSD or stablecoins such as USDT or Bitcoin, for example.

Binance developed BUSD together with Paxos, a leading stablecoin company. U.S. authorities caused a ban on the coin The reason: BUSD is an unregistered security. Paxos is also working with PayPal on its stablecoin, PYUSD.

It should still be possible to redeem BUSD at Paxos until February 2024. After that, it will disappear.