Binance saying Good bye to BUSD stable coin

Busd is the coin for this biggest exchange in the world and the exchange has been promoting this stable coin for some time but now things have gone on a different path. Binance has to Deal with a lot of legal issues and regulation challenges in the USA and because of that probably the exchange had decided to stop dealing with their stablecoin known as Busd. this stable coin has got a lot of attention in the last few years and its market tap has grown because it is backed by the biggest exchange in the world.

Now the exchange has clearly announced that they will stop supporting this table coin in the first quarter of 2024. This was managed by a 3rd party company called Paxos and even Paxos had announced in the past that they will not mint any more BUSD from now onwards. all this is happening because of the regulatory issues raised by the concerned authorities in the country especially in the US so the exchange is moving away with all the pairs and products linked with Busd.

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I have seen many announcements about delisting in with the exchange They have been trying to delist Busd from different pairs and they will also take it off from different products in their platform. This is good that the exchange has given a good amount of time to their users so that there is no need to panic and everyone can take action without worrying about the time shortage. in the announcement post, the exchange has cited that everyone needs to convert their busd to another coin before the due date to avoid any inconvenience.

I believe it is a responsible approach by the exchange which must be appreciated because changes can be part of the business but it is very important for the organisation to share the required update well on time. timely communication is the key in any business and the exchange has done it which simply means that they are following the responsible approach to ensure that none of their user is affected by this change. they have also suggested that they will be supporting another coin called FDUSD but that is a different scenario which we can't discuss later and as of now the recommendation is to convert all the Busd holding into some other groins that you like.

Thank you