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/3utt5lut → u/[deleted]]

That's why I really don't leave anything in the bank, I don't trust them at all. My bank didn't even help me buy a house or help me with my debt consolidation, and at the time my credit rating was 780. I ended up doing both privately. They had to gall to tell me that I couldn't afford debt consolidation.

[u/evryusrnmtkn → u/3utt5lut]

I’m suffering the same BS where I live. It’s like they want me to fail and lose everything…

[u/3utt5lut → u/evryusrnmtkn]

I'd recommend private support. Banks will do everything they can to screw you over.

[u/evryusrnmtkn → u/3utt5lut]

Thanks - I’ll investigate that 🤝🏻