To save its business from running into trouble with the US financial regulators, the US arm of Binance has announced plans to suspend the trading of Tron and Spell on its platform starting from April 18, 2023, so if you are holding one of the named digital assets, it is high time you removed your assets from the exchange.
According to Binance.US, it usually conducts periodic reviews of the listed digital assets on its platform, this is usually done to avoid running into problems with the US financial regulators, especially during this period of US crypto crackdown, and also for market responsiveness.
Different factors contributed to the move to delist both digital assets on Binance.US, the release stated, these include trading volume and liquidity, regulatory standing in the US, evidence of unethical or fraudulent conduct, changes in the digital assets tokens’ risk profiles, network or smart contract stability amongst others, are why the suspension is quite necessary.
Starting from April 17, 2023, 7 p.m. PDT, users will not be able to deposit both Spell and Tron on the exchange, although, the withdrawal of both assets will be opened after the above-mentioned time, staking will however be disabled on April 13 at 4 a.m. PDT.
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