Binance Important Announcement For Japan, France, Italy, Poland, and Kazakhstan Users

Changes to BUSD on Binance

Binance has announced some upcoming changes regarding BUSD (Binance USD) on Their platform. Paxos, the issuer of BUSD, has halted the creation of new BUSD, leading to adjustments in our support and services related to BUSD.

Removal of BUSD Support:

Effective from December 15, 2023, Binance will cease support for BUSD products. BUSD will continue to be backed 1:1 by USD, and Paxos has assured that BUSD will remain supported and redeemable through at least February 2024.

Withdrawal and Conversion:

Withdraw or convert their BUSD assets into other available assets on Binance before December 15, 2023. You can trade your BUSD balances for FDUSD at zero trading fees or convert BUSD to FDUSD on Binance Convert at a 1:1 conversion rate with zero fees.

From December 31, 2023, 03:00 (UTC), BUSD withdrawals will be disabled, and remaining BUSD balances (excluding users in Japan, France, Italy, Poland, and Kazakhstan) will be automatically converted to FDUSD at a 1:1 conversion rate. Users can manually convert their BUSD to FDUSD until further notice.

Spot Trading Pairs Removal:

Various spot trading pairs involving BUSD will be removed on December 12, 2023 :

Futures & Margin:

BUSD will be removed from Futures and Margin as per the announced schedule.

Deposits, Withdrawals & Conversions:

After December 31, 2023, 03:00 (UTC), withdrawals of BUSD (ERC-20) tokens via the Ethereum network will cease. Deposits of BUSD and Binance-Peg BUSD via certain networks will be temporarily suspended.

All BUSD balances in Spot and Funding Wallets will be automatically converted to FDUSD at a 1:1 conversion rate, excluding users in Japan, France, Italy, Poland, and Kazakhstan.

Convert & OTC:

Users can continue converting BUSD to FDUSD at a 1:1 conversion rate using Binance Convert and Binance OTC until further notice. Conversion of BUSD to FDUSD at a 1:1 rate will be temporarily suspended from December 29, 2023, 03:00 (UTC) until completion of the balance conversion event.

Loans, Earn, Card, Pay, and Gift Card:

Various services, including Loans, Earn, Card, Pay, and Gift Card, will be affected by these changes.

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