On the 13th of January, the New York State Department of Finan | CryptoExplorer ✪
On the 13th of January, the New York State Department of Financial Services instructed Paxos to stop producing new BUSD.
In the aftermath, Binance CEO Changpeng "CZ" Zhao has affirmed that users have begun to migrate to other stablecoins. Binance intends to make adjustments to its products, including transitioning from using BUSD as the primary trading pair. Despite these changes, Binance will continue to support BUSD in the near future.
Is it advisable to switch to other stablecoins and is there even a risk of BUSD losing it's peg?
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