Binance clarifies its most recent update to its Terms of Use, here's what it was all about
Binance assures its users that they are provided with a notification period, detailed in delisting announcements, during which they may choose to withdraw or convert these delisted assets into an asset of their choice. If no action is taken after this specified period,converts these delisted"zombie assets" into stablecoins to prevent user assets from getting"stuck" in limbo.
While acknowledging the need for greater clarity in the TOU language, the spokesperson stated that Binance intends to make updates to specify that the conversion of assets would be into a stablecoin, and that users would be given a notification period to withdraw the delisted asset. This statement from Binance is a bid to clarify its stance and policies, emphasizing the proactive measures taken to protect user interests and bring more transparency to their platform operations.
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