Binance has announced plans to end support and phase out the Binance USD (BUSD) stablecoin by the end of December. The move to end support for BUSD comes after US authorities and regulators forced Paxos to stop issuing the token earlier this year. The exchange urged users to withdraw their BUSD holdings from the platform or convert their BUSD into other assets before the 15th of December. It also noted that users can convert their BUSD to another stablecoin, First Digital USD (FDUSD), at a 1:1 rate with zero fees. The exchange also indicated that all spot trading pairs involving the BUSD stablecoin will be delisted between the 11th of December and the 15th of December.
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