In August 2024, the dollar accounted for almost half (49.1%) of payments handled by the global payment network SWIFT, with no other currency presenting solid competition to the dollar’s role in international payments.
The company’s complaints to the New York regulator were followed by Paxos being ordered to cease minting Binance BUSD stablecoin.
Starting Wednesday, Binance is suspending U.S. dollar transfers, withdrawals, and deposits for international customers.
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