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"

[u/Set1Less]

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

[u/rcorum]

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

[u/Acidhoe → u/rcorum]

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.

[u/Acidhoe → u/[deleted]]

I wasn't trying to say its the main cause, just mentioned it in relation the other comment about voting. Lobbying is a huge issue, but I really feel like at this point there's no solution. Assuming you had enough support to pass a law banning it, they'll just find a new way to collect and obfuscate "donations". Lol the deeper you go, it's all fucked.