Binance.US Delists SPELL and TRX Due to Non-Compliance

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Crypto News > Binance.US Delists SPELL and TRX Due to Non-Compliance

Binance.US, one of the leading cryptocurrency exchanges, has announced that it will be delisting two digital assets – Spell (SPELL) and TRON (TRX) – from its platform on April 18, 2023. The decision to delist these tokens was made after a thorough review of various factors, including changes in their risk profiles, contribution to the crypto ecosystem, trading volume and liquidity, regulatory standing in the US, development activity, network stability, community engagement, and evidence of fraudulent or unethical conduct.

According to the announcement, deposits for SPELL and TRX on Binance.US will be closed on April 17, 2023, at 7 p.m. PDT / 10 p.m. EDT. Deposits made after this time will not be credited to users’ accounts. However, withdrawals for these tokens will remain open.

Additionally, the buy, sell, convert, and OTC functionality for SPELL and TRX will be removed one hour after deposits close. Staking for TRX will be disabled on April 13, 2023, at 4 a.m. PDT / 7 a.m. EDT and removed from the staking page on April 14, 2023, at 5 p.m. PDT / 8 p.m. EDT. If you have TRX staked, your TRX will be unstaked for you and deposited back to your wallet. You will receive your TRX staking rewards and staked TRX on April 14, 2023, at 8 p.m. PDT / 11 p.m. EDT.

Trading for SPELL and TRX on Binance.US will be closed on April 18, 2023, at 8 p.m. PDT / 11 p.m. EDT, and the TRX/USD, TRX/USDT, TRX/BTC, SPELL/USD, and SPELL/USDT trading pairs will be removed. All Advanced Trade orders will be automatically removed after trading ceases for each respective trading pair.

It’s worth noting that Binance.US will continue to support TRC-20 USDT and USDC issued on the TRON network. The exchange has thanked its users for their support as it continues to build the crypto ecosystem in a way that promotes security, transparency, and long-term sustainable growth.

Overall, the delisting of SPELL and TRX from Binance.US is a reminder that digital assets can be subject to review and delisting if they no longer meet the exchange’s high standards or if market and regulatory circumstances change. It’s essential for crypto investors to stay up-to-date on such developments and to consider the risks involved before investing in any digital asset.

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