Binance's BNB price reacts as CZ responds to BUSD stablecoin crackdown
On the alleged SEC v. Paxos lawsuit, CZ says he has no information about it, other than public news articles.
"If" BUSD is ruled as a security by the courts, it will have profound impacts on how the crypto industry will develop in the jurisdictions where it is ruled as such. Binance will continue to support BUSD for the foreseeable future, CZ added. The Binance CEO hinted at further plans in the wake of the regulatory call:"We do foresee users migrating to other stablecoins over time. And we will make product adjustments accordingly. e.g., move away from using BUSD as the main pair for trading."
He continued,"Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm."
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