- Initially, Binance had announced zero-fee only for BTC-TUSD trading pair.
- Binance has now announced that the zero-fee will apply for all TUSD trading pairs.
- The move comes amid the regulatory backlash the exchange has received from regulatory authorities around the world.
A new zero-fee promotion for TrueUSD (TUSD) trading pairs has been announced by Binance. The tactical move, set to begin on June 30, 2023, is expected to stimulate the dynamics of the cryptocurrency market by opening up its fee-free trading opportunity to a larger audience.
This is an expansion of the prior promotion, which only applied to the Bitcoin (BTC) – TUSD pair, to introduce zero maker fees on all TUSD spot and margin trading pairs. Additionally, the exchange has also extended the BUSD zero-maker fee promotion for an additional six months until the end of 2023, Binance has shown its dedication to making trading more affordable.
TrueUSD market activity and liquidity
The bold move made by Binance is anticipated to have a significant effect. The expansion of TUSD’s fee-free trading and its integration into Binance’s platform is expected to increase market activity and liquidity, creating a more welcoming trading environment for the entire crypto community.
The TUSD token, issued by the cryptocurrency company ArchBlock, formerly known as TrustToken, is currently the fifth-largest dollar-pegged stablecoin on the market.
Binance navigating regulatory handles
Regulatory scrutiny and legal issues have created turbulence for Binance’s aggressive market expansion. Binance and its CEO, Changpeng “CZ” Zhao, have recently been the target of several lawsuits, including ones from the US Securities and Exchange Commission (SEC).
These difficulties have been made even more difficult by the fact that French authorities are looking into the company for possible “aggravated money laundering.” Binance also made the decision to leave the Netherlands after failing to obtain the necessary operating license and also revoked its operating permits in the UK. It has also chosen to cancel its registration with Cyprus’ securities regulator.