Binance adds support for USDT deposit & withdrawal via the Ton blockchain
Binance crypto exchange completed its integration work for the Ton blockchain network to support Tether stablecoin deposits.
Binance is a globally top-ranked cryptocurrency exchange known for its extensive range of digital assets and trading options. Widely trusted and utilised by traders around the world. Binance offers a robust platform for buying, selling, and managing cryptocurrencies.
On 21 June 2024, the Binance team completed the integration work for the Ton blockchain network support for USDT stablecoin.
Binance announced the successful integration of Tether (USDT) on the Toncoin Network and confirmed that users can now perform deposits and withdrawals of USDT on this network. This development marks a significant expansion in the utility and accessibility of Tether on different blockchain networks.
This is also a very big news around Ton blockchain adoption and it will inject a better degree of confidence level among the Ton coin investors.
The current trade price of Ton coin is $7.23 & this price level is 7% down over the last 7 days of trade price.
Binance & legal hurdles
In January of this year, Binance and several other crypto exchanges faced access restrictions in India due to their lack of registration with the Indian Financial Intelligence Unit (FIU) and non-compliance with regulations such as the Prevention of Money Laundering Act (PMLA) and the Virtual Digital Assets (VDA) taxation framework.
Just a few months ago, Binance successfully paid a fine over violations & settled the case with Indian authorities, to bring services back live for the Indian crypto investors officially.
Binance co-founder & former CEO Changpeng Zhao (CZ) is currently in jail for violating the US AML measures. Recently CZ completed 1 month of jail sentence & he will be released by the authorities after 2 months.
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