How to Profit from Binance USD (BUSD)
On February 12, the New York regulators had stopped the issuance of Binance USD (BUSD), which is the world’s third-largest stablecoin.
What happened?
The idea of cryptocurrency started back in the early 1980s when David Chaum invented eCash. Bitcoin, the world’s first was launched in 2008, during the Great Financial Crisis (GFC), also called the Great Recession. It took 12 years from inception of this encrypted monetary system to complete the first transaction piece to processing millions of transaction daily.
On February 12, the Securities and Exchange Commission (SEC) told Paxos Trust Co., a cryptocurrency firm, about its plans to file suit against the company for suspected violations of investor protection laws. According to people familiar with the matter, the federal agency believes that BUSD, which Paxos issues, is unregistered security. Now, the commission seems to be focusing on stablecoins. These types of digital currencies are cryptocurrencies whose value is tied to something else, like another currency, financial instrument, or commodity. Stablecoins are typically less volatile than other cryptos like Bitcoin.
In response to the SEC move, Paxos has stated that the company disagrees with the commission’s findings. The business threatened to fight the agency in court if it pursues the matter. Chief Strategy Officer from Binance, Patrick Hillmann, stated the SEC’s recent move will have “deep and long-lasting” effects on the US.
The Response
After regulators stopped the BUSD issuance, many were concerned about the future of Binance, a crypto exchange platform.
Some investors have fled the coin, fearing the worst. But the fact is that regulators only stopped minting of new BUSD, which does not affect BUSD currently in circulation. BUSD is trading actively, along with other stablecoins, on all major exchanges.
Making Money
Ignore the noise. The current market FUD (fear, uncertainty and doubt) has opened unique doorway for you profit from BUSD. In fact, you can receive really great earnings from BUSD, while others are anxious. For instance, here’s an opportunity to profit from BUSD, while some are looking for exits. Let me show you how.
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