As a major development, the Poloniex crypto exchange has announced that from November 24, it will stop deposits and withdrawals functions for stablecoins on the BEP20 (BSC) network. These include USDT, USDC, TUSD and Binance’s own BUSD.
Poloniex’s Abrupt BSC Halt
According to the recent announcement, Poloniex has stopped the BEP20(BSC) network deposit function for the above-mentioned stablecoins. However, the deposit and withdrawal functions for other BSC-based tokens will remain operational.
Furthermore, the announcement urges users to use the ERC20 and TRC20 networks for stablecoin deposits and withdrawals, and that the team would be offering equivalent multichain solutions for the different stablecoins.
No Reason Given For Suspension
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