If stablecoinBinance USD (BUSD) is recognized as a security, Binance CEO Changpeng Zhao has warned of “deep consequences” on the cryptocurrency market. This comes after an alleged lawsuit filed by the Securities and Exchange Commission (SEC) of the United States against Paxos, the BUSD’s issuer.
With a market cap of almost $16 billion, BUSD is the third-largest stablecoin and the seventh-largest cryptocurrency in the world. Binance will keep supporting BUSD for the foreseeable future, but it will make product changes to protect consumers from any unintended harm.
Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security
