A Coinbase representative stated that the suspension of BUSD trading will begin on March 13 because it was determined that BUSD no longer met their listing standards.
On February 27, the exchange tweeted that Coinbase would stop trading the Binance USD BUSD stablecoin on March 13. Its "listing standards" were cited in the message as the reason for the choice. The third-largest stablecoin in terms of market capitalization is BUSD.
According to the Twitter thread, the decision will be applicable to Coinbase.com (basic and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. "Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time," the exchange noted.
A representative for Coinbase informed Cointelegraph:
“Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes. When reviewing BUSD, we determined that it no longer met our listing standards and...