Binance crypto exchange completed its integration work for the Ton blockchain network to support Tether stablecoin deposits.
Binance is a globally highly regarded cryptocurrency exchange known for its extensive range of digital assets and trading options. Widely trusted and used by traders around the world. Binance offers a robust platform for buying, selling and managing cryptocurrencies.
On June 21, 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 make USDT deposits and withdrawals on this network. This development marks a significant expansion of Tether’s usefulness and accessibility on various blockchain networks.
This is also very big news around the adoption of Ton blockchain and it will create a better level of trust among the Ton coin investors.
The current trading price of the Ton coin is $7.23 and this price level is 7% lower than the last 7 days trading price.
Binance and legal hurdles
In January this year, Binance and several other crypto exchanges in India faced entry restrictions due to their lack of registration with India’s Financial Intelligence Unit (FIU) and non-compliance with regulations such as the Prevention of Money Laundering Act (PMLA) and the tax framework for virtual digital assets (VDA).
Just a few months ago, Binance successfully paid a fine for violations and settled the case with Indian authorities, officially bringing its services back live to Indian crypto investors.
Binance co-founder and former CEO Changpeng Zhao (CZ) is currently in prison for violating US AML measures. Recently, CZ served a 1-month prison sentence and he will be released by the authorities after 2 months.
Also read: Financial expert Kiyosaki suggests studying and understanding Bitcoin from “Bitcoin Zella”.