- Binance announced new rules for processing USDC deposits and withdrawal requests.
- The exchange has suspended support for such transactions on the TRON network.
- Earlier, Circle announced that it would stop issuing USDC in this ecosystem.
Cryptocurrency exchange Binance announced the suspension of USDC inputs and withdrawals on the TRON network. The platform cited Circle’s decision as an explanation.
According to the official statement, the new rules will come into effect on April 5 from 02:00 UTC . Binance emphasized that they will not affect transfers to USDC on other networks in any way.
Users will still be able to withdraw their funds or exchange them for other crypto assets. USDC deposits made through the TRON network will not be credited after the said deadline.
Circle announced that it will suspend USDC issuance in the ecosystem at the end of February 2024. The company has not explained its decision in any way.
Some other exchanges have also introduced restrictions on USDC deposit and withdrawal in TRON. In particular, the Kraken platform still allows to deposit stablecoins through this network, but not to withdraw.
