Major cryptocurrency exchange Binance has announced that Bitcoin’s zero-commissions practice will move from Binance USD (BUSD) to TrueUSD (TUSD). Binance CEO Changpeng Zhao (CZ) announced the change with a note of “important update.”
“We are moving Bitcoin’s zero-commission implementation from BUSD to TUSD”
Binance, the world’s largest cryptocurrency exchange by trading volume, recently announced some changes to its zero-commission app for Bitcoin. Binance CEO CZ said on his personal Twitter account, “Due to recent events, we are moving Bitcoin’s zero-commission application from BUSD to TUSD.” He highlighted the biggest change in practice.
On February 10, 2023, the unexpected happened when Paxos Trust Company, behind BUSD and Paxos Dollar (USDP), was investigated by the New York Department of Financial Services (NYDFS). It is believed that Binance terminated support for BUSD on BTC’s zero-commission application, transitioning to TUSD is related to the investigation.
Changes in BTC Zero Commission Practices
It is understood that Binance will launch BTC spot trading pair zero commission trading on July 8, 2022 to celebrate its fifth anniversary. Zero-commission trading is initially available for 13 spot trading pairs. The spot trading pairs in question are as follows: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/ USDC, BTC/USDP, and BTC/USDT.
With the recent changes in the implementation of zero commissions for Bitcoin, users will only be able to continue trading with zero commissions when trading BTC on the BTC/TUSD spot trading pair. BUSD Zero Fee will no longer cover spot and margin trading pairs BNB/BUSD, BTC/BUSD, and ETH/BUSD. Standard transaction fee application and spot and margin trading pairs BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/UAH and BTC/USDT BNB /BUSD and ETH/BUSD will also be available for spot and leveraged trading pairs.
Information source: compiled from COIN-TURK by 0x information.Copyright belongs to the author Ömer Ergin, without permission, may not be reproduced