Crypto asset (virtual currency) exchange Binance CEO Changpong Zhao is not necessarily closely involved in stablecoin Binance USD (BUSD), whose new issuance has been suspended by US regulators. I said no and kept my distance.
“BUSD is not issued by Binance. We have a contract for Paxos to use our brand. said on Twitter Spaces.
“BUSD will gradually decline over time. We will work with more stablecoin issuers,” Zhao said, adding that other stablecoins such as USDC (USDC) and Tether (USDT) are already available. He continued by mentioning that he supports coins.
Circle’s accusations denied
Zhao also denied news reported by Bloomberg that Circle had filed a complaint with the NYDFS about Binance USD reserves.
“I don’t think Circle did that at all. Professional industry peers would never think of doing that to other peers,” Zhao said.
“That would only hurt the industry as a whole as we are facing right now…don’t take that article too seriously right now,” Zhao said.
Paxos, the issuer of Binance USD, said on February 13 that it would stop issuing new tokens at the request of the New York State Department of Financial Services (NYDFS). However, it denies the authorities’ allegations that Binance USD constitutes an unlicensed security.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinDesk TV
｜Original: Binance CEO Distances Himself From BUSD Stablecoin as Regulators Act