Binance US has announced its plans to delist cryptocurrency assets tron and spell on April 18, 2023. The company said that it reviews its assets periodically. When a digital asset does not meet the high standards it sets, or when industry conditions change, it will conduct a deeper review and determine if further action (i.e. delisting) is needed. delisting).’

Binance US is closing deposits for SPELL, TRX and SPELL on April 17, 2023. Withdrawals will be open. Binance US is not delisting Tron native assets USDT and USDC, but it will support USDT TRC20 versions of the Tron network’s USDC. The delisting news caused TRX to lose 2.8% in value against the U.S. Dollar, while SPELL dropped more than 4%.

Spell is linked to the Abracadabra.money Project, which produces the stablecoin asset known as magic internet money (MIM). Binance Holdings Ltd. was sued in a lawsuit by the CFTC, and Justin Sun, the founder of Tron, was by the SEC. The SEC has sued Sun for market manipulation and TRX being an unregistered securities. A recent article stated that Binance US is struggling to find new banking partners.

Binance US says that delisting is usually related to the changing risk profile of a cryptocurrency, its volume and liquidity, as well as the network’s resistance to external and internal attacks and the’regulatory status in the United States.

In the U.S., cryptocurrency businesses are being targeted. On March 9, 2023 New York Attorney-General Letitia James sued Kucoin, declaring that ethereum, or , ETH, the second largest cryptocurrency by market capitalization, is an unregistered securities. The Bittrex crypto exchange announced in the first week of the month that it would be closing its U.S. operation due to regulatory uncertainty.