Binance Ceases Support for $BUSD Stablecoin Amid Regulatory Challenges

#Binance will end support for its BUSD stablecoin on December 15, following regulatory issues that halted #Paxos the issuer, from minting in February. Users can redeem BUSD until February 2024, but withdrawals cease on December 31, with remaining balances converted to FDUSD. The decision comes amid regulatory scrutiny, including a lawsuit by the CFTC. Binance's new CEO, Richard Teng, emphasizes commitment to regulatory compliance after a $4.3 billion settlement with the U.S.