After the New York Department of Financial Services ordered Paxos to stop issuance of BUSD, Binance said today (22) that it will destroy 2 billion BUSD on BNB Chain, and the same amount of Ethereum BUSD will also be released from cross-chain mortgages.

Review of events: BUSD event summary | Are stablecoins securities? Regulatory requirements to stop additional issuance? Binance Changpeng Zhao’s response? Does USDC matter?

This article Binance destroys 2 billion BUSD on BNB Chain first appeared in Chain News ABMedia.