Cryptocurrency exchange Binance will continue supporting its Binance USD stablecoin despite its issuer Paxos facing a stop order from American regulators. Binance SEO Assures BUSD Holders Binance CEO Changpeng ‘CZ’ Zhao has moved to assure users that funds are safe despite the intended enforcement action. A Twitter thread on Feb. 13 noted that Paxos is regulated by the NYDFS and BUSD is ‘wholly owned and managed by Paxos.’ According to Zhao, Paxos will continue to service BUSD and manage redemptions and has also made assurances of its reserves which have been audited by multiple parties. As a result of the enforcement
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