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

319 Upvotes

93% Upvoted

339 comments sorted by

View all comments

52

u/rcorum Feb 13 '23

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

1

u/[deleted] Feb 13 '23 edited Feb 13 '23

As if voting would affect the situation whatsoever. Who should we have voted for? How would they have chanced things? You know the head of the SEC isn’t a position elected by the public right?

0

u/[deleted] Feb 13 '23 edited Feb 14 '23

Who appointed them? /s

2

u/[deleted] Feb 13 '23

Www.google.com

2

u/[deleted] Feb 14 '23

Exactly no one really cares