#Binance $BUSD According to web search results, CZ Changpeng Zhao's gesture for having to remove BUSD from Binance was to offer a refund to users affected by the decision. BUSD is a stablecoin pegged to the US dollar that was launched by Binance in partnership with Paxos in 2019¹. However, in March 2023, Binance announced that it would remove BUSD from its platform due to regulatory pressure from the US Securities and Exchange Commission (SEC), which sued the company and Zhao for violating investment laws. of the country².

Zhao said in a statement that Binance had decided to remove BUSD to protect its users and comply with legal regulations. He also said that users would be able to redeem their BUSD for other cryptocurrencies or for US dollars without any additional charges. In addition, it offered a refund of 10% of the value of the BUSD that users had in their Binance accounts as a gesture of goodwill³. Zhao stated that Binance would continue to support the development of stablecoins and hoped to resolve disputes with the SEC as soon as possible³.

Origin: Conversation with Bing, 9/9/2023

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