In an ongoing survey by British regulators, blockchain infrastructure service platform Paxos Trust Company will suspend the issuance of a new Binance dollar (BU.S.) Stable currency.

Paxos officially announced on February 13th that it would stop its partnership with Binance in exchange for stable US dollars linked to the dollar of the Binance brand.

Gradually, Parksos will stop forging a new dollar token in accordance with the instructions and coordination of the New York City Financial Services Center (NYDFS).

Parksos notes that all existing Australian dollar tokens will also be fully supported and exchanged according to Parksos Futures Company, at least until February 2024. The company said customers would be able to redeem their US dollar assets and convert their US dollar tokens into another stable currency, Pax Dollar (USDP), issued by Paxos, adding:

This behavior will not affect our ability to serve new customers or current customers, nor will it affect our focus on promoting our own employees or funding their business goals. Paxos will also continue to work to build blockchain technology dynamic password infrastructure construction in the field of worldwide managers [.] "

Paxos also mentioned that Paxos Trust is a regulated organization supervised by NYDFS and then audited by a top four accounting firm, which refers to the publication of transparency reports. The company will continue to maintain its strong regulatory capital to operate the relatively stable China Pacific Gold (PAXG) encouraged by USDP and its gold.

Zhao Changpeng, chief executive of Binance, also reported on Twitter on Monday that Paxos had notified the trading center that NYDFS had marked them to terminate a new dollar against the dollar. The chief executive noted that stablecoin was issued and managed through Paxos, which meant there was no problem between Binance and the watchdog.

"as a result, the total market value of the US dollar can only decrease over time," Zhao stressed.

At the time of writing, Busd is the seventh largest digital currency, with a total market capitalization of $16 billion. The token's peg to the dollar fell slightly to $0.998, which is not unique among many other stable currencies encouraged by reserves, as its value sometimes fluctuates between $0.9 and $1.2.

Some time ago, NYDFS suddenly ordered Paxos Trust to stop issuing B dollars on February 13. Previously, the Foreign Securities and Exchange Commission issued a notice to Paxos, it is reported that B dollar is a kind of unregistered securities.