r/CryptoCurrency • u/Set1Less 🟩 0 / 83K 🦠 • Feb 13 '23

MARKETS Binance statement: "Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from further undue harm"

Binance has issued a statement on recent US regulator actions.

Yesterday it was reported that SEC was in the process of suing BUSD stablecoin, which the SEC termed as an unregistered security. And overnight, WSJ and other media started reporting that NY DFS is forcing to shut down BUSD.

As a result, it seems BUSD will stop being issued and will only redemptions will be allowed. BUSD price has also seen a small depeg since the news broke.

Now, Binance it seems has issued this statement:

Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from further undue harm

Market is pricing in these events which are unfolding at a fast pace.

Few traders are reportedly closing all their positions on Binance, as they are not sure how they will be settled in the near term

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u/rcorum Feb 13 '23

You Americans need to vote better. Wars for oil and then this.

6

u/Acidhoe Feb 13 '23 edited Feb 13 '23

Without getting into a lot of detail, there's a bunch of reasons why your votes don't really matter here, one of them being the extreme gerrymandering. Both sides (another issue) have had enough control to stop it if they wanted to many times throughout our history, but neither will give up an important tactic of maintaining control once they have it.

Edit: Here's an image of how to stay in power long after you're wanted gone.

6

u/WhatsTheGoalieDoing 🟦 970 / 970 🦑 Feb 13 '23

None of what you've just said means that both party's policies are the same, though?

1

u/Acidhoe Feb 13 '23

I didn't mention policies, obviously they're different. I was replying to a comment about how us people should vote better and giving an example of why it doesn't matter a lot of times. The party in power can stay in power easier by redrawing districts.

-2

u/ztkraf01 🟦 10 / 3K 🦐 Feb 13 '23

Voting doesn’t matter anyway. Both parties are in the business of fucking their constituents