Binance US has recently announced that it will be delisting two cryptocurrency tokens, TRON (TRX) and Spell (SPELL). Deposits for these tokens will be closed on April 17th, 2023, at 7pm PDT/10pm EDT, followed by the disabling of bets on April 13th, and the removal of staking page on April 14th. Trading pairs TRX/USD, TRX/USDT, TRX/BTC, SPELL/USD, and SPELL/USDT will be removed on April 18th at 8 pm PDT/11 pm EDT.

This delisting is related to a significant event on the morning of March 23rd, when TRON founder Justin Sun made his first statement after being sued by the U.S. Securities and Exchange Commission (SEC). The SEC alleged that TRON (TRX) and BitTorrent Token (BTT) were securities and conducted market manipulations. In response, Sun asserted that the accusations did not interfere with the business activities of TRON and expressed readiness to work with authorities and regulators to create transparent supervisory regulations for the cryptocurrency industry. Moreover, he noted that the Caribbean island nation of Dominica has acknowledged both TRX and BTT as legal payment methods by the end of 2022.

Consequently, the price of both tokens experienced a considerable drop following the news. Traders and investors should be aware that these customary delisting notifications are occasionally issued by exchanges during their continued efforts to ensure their regulatory compliance. As such, Binance US urged customers to be aware of their positions and take appropriate action.



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