Binance Integrates Tether on Toncoin Network Amid Upcoming Regulatory Changes
Summary:
Binance has successfully integrated Tether (USDT) into the Toncoin Network, offering users the ability to deposit and withdraw USDT. The move is set to improve transaction speeds, lower fees, and offer a cost-effective way to handle USDT transactions. This integration occurs ahead of expected regulatory changes in the European Economic Area. Meanwhile, Telegram founder Pavel Durov plans to utilize the TON blockchain to tokenize stickers and emojis on the popular social media platform.
In a recent announcement, Binance confirmed that it has successfully integrated Tether (USDT) into the Toncoin Network. Effective June 21, it's now possible for users to deposit and withdraw USDT via the Toncoin Network. The integration brings with it an increase in the transitional flexibility of stablecoin liquidity within the Ton Network blockchain. This step is anticipated to enhance transaction speeds, lower costs, and present a cost-effective method for managing USDT transactions. Users have been strongly recommended to verify their token deposit addresses and the smart contract address on the Toncoin Network using the links in Binance's official statement.
This integration of Binance's USDT into the Toncoin Network has occured prior to an anticipated regulatory shift within the European Economic Area (EEA). The impending changes will impart restrictions on unauthorized stablecoin such as USDT under the Markets in Crypto-Assets (MiCA) regulations. Binance has encouraged its users to stay updated on these changes to ensure compliance and evade potential interruptions to future crypto transactions.
Recently, Telegram's founder, Pavel Durov pledged his allegiance to the TON blockchain. He declared plans for tokenizing stickers and emojis on the widely used social media platform through TON blockchain utilization. In his address at Token2049 in Dubai, Durov highlighted the centrality of privacy and freedom, which are inherent to blockchain technology's principles. He further outlined plans to develop Telegram features on The Open Network (TON) blockchain, including the integration of USDT and advertising revenue-sharing options.
Published At
6/21/2024 11:38:53 AM
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