Binance has announced that it will convert delisted cryptocurrencies, known as "zombie assets," into stablecoins to prevent users' assets from being stuck in limbo. The exchange did not specify which stablecoin these assets would be converted to.
Binance recently faced criticism over updated terms of use that gave the platform the exclusive right to convert delisted cryptocurrencies into different digital assets after a certain period.
In response, Binance has clarified that assets will only be converted after a notification period, and users will have the option to withdraw the delisted asset. The exchange is currently facing legal action from the U.S. Securities and Exchange Commission over alleged securities law violations.
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