Binance 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.