Coinbase CEO Brian Armstrong previously said the decision was made due to liquidity concerns.
Highlights
- Paxos stopped minting the stablecoin due to regulatory action by the New York Department of Financial Services and, reportedly, the federal Securities and Exchange Commission.
- The decision came after Paxos, the company that issues BUSD, stopped issuing the coin.
- BUSD CEO Brian Armstrong previously said the decision was made due to liquidity concerns.
- He said it was due to a decision made by the company due to the decision to stop minting BUSD in New York City.
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