Binance and Crypto Markets Rattled as Paxos Ordered to Stop Issuing Exchange’s Stablecoin

Binance, the world’s largest cryptocurrency exchange, faced increased regulatory pressures over the weekend as the issuer of its U.S. dollar-pegged stablecoin said it will stop issuing Binance USD after an order from regulators.

Amid a recent round of banking and finance headwinds facing Binance, it has the potential to be the most disruptive to wider crypto markets.