Binance Waives Fees on TrueUSD Trading Pairs for Zero-Cost Trading

• Binance has announced a new zero-fee promotion for TrueUSD (TUSD) trading pairs, set to begin on June 30th.
• The move is expected to stimulate the cryptocurrency market by opening up its fee-free trading opportunity to a larger audience.
• This bold move comes amid regulatory backlash and legal issues faced by Binance and its CEO Changpeng “CZ” Zhao.

Binance Announces Zero-Fee Promotion for TUSD

Binance has announced a new zero-fee promotion for TrueUSD (TUSD) trading pairs, set to begin on June 30th, 2023. The tactical move is expected to stimulate the dynamics of the cryptocurrency market by opening up its fee-free trading opportunity to a larger audience. Initially, Binance had only offered zero-fee on the BTC-TUSD trading pair but now it will apply for all TUSD trading pairs.

Increased Market Activity & Liquidity

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 ArchBlock (formerly known as TrustToken), is currently the fifth largest dollar-pegged stablecoin on the market.

Regulatory Pressure Faced By Binance

Regulatory scrutiny and legal issues have created turbulence for Binance’s aggressive market expansion. It has recently been targeted with multiple lawsuits from US regulators such as the Securities and Exchange Commission (SEC). Additionally, French authorities are looking into possible “aggravated money laundering” charges against them and they have also revoked their operating permit in the UK and chosen not to pursue registration with Cyprus’ securities regulator.

Zero Maker Fee Promotion Extended

In addition to introducing zero maker fees on all TUSD spot and margin trading pairs, Binance has also extended their BUSD zero maker fee promotion until December 31st of 2023 in order to make trading more affordable.

Conclusion

The move made by Binance is anticipated to have significant effects on increased liquidity within crypto markets worldwide. It remains to be seen whether or not this will help them navigate through various regulatory issues that they are currently facing or if it will just further complicate matters in regards financial regulations across different countries worldwide.