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BUSD coin trading will stop on Binance in 2024. Binance, an international cryptocurrency exchange, has made an announcement about BUSD coin.
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According to an announcement which is published on August 31 by Binance, users should convert their BUSD coin assets to other alternative stablecoins. However, it is clear that the value of the coin won’t change. Additionally, Binance exchange will progressively reduce its support on $BUSD, and it will make an announcement about services damaged. Previously, Paxos had made an announcement to stop the mining of $BUSD tokens.
Despite the decrease in support of BUSD$, Binance will continue its commitment to other coins. Therefore, it suggests that users should convert $BUSD to other assets before February 2024.
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Thus, Binance will delist $BUSD on margin and spot progressively. It says that they will explain the delist news soon. However, users will be able to move on to trading other assets with various stablecoins pairs.
Furthermore, Binance is going to suspend lending $BUSD on cross margin at 09.00 on September 7 of this year. Also, users who use cross-margin and portfolio margin won’t add $BUSD to their wallet but they have permission to use other coins.
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