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Uncategorized

Terra Classic Transfers On Binance Will Be Taxed

September 25, 2022 - Around 1 mins mins to read

Binance (BNB), a premier environment for cryptocurrencies, is nearing the installation of a fee on LUNC transactions. 1.2% burn tax is implemented by BNB in two stages.

Terra Classic Transfers On Binance Will Be Taxed
Terra Classic Transfers On Binance Will Be Taxed

Binance (BNB) implements 1.2% burn tax

The cryptocurrency exchange BNB announced its decision to introduce a 1.2% token burn rate on each transaction, according to Mr. Wu, who shared the news on Twitter.

https://twitter.com/WuBlockchain/status/1573518869721141248

Two phases will be taken to implement the significant update. The tax will only be applied to “opt-in” traders when the quantity of LUNC tokens deposited in “opt-in” (“approving”) accounts.

The tax will then be applied to all LUNC transfers for BNB users once the limit of the LUNC share maintained per opt-in account reaches 50%. As a result, BNB may soon surpass other crypto exchanges in size by implementing LUNC transfer taxation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Uncategorized

Terra Classic Transfers On Binance Will Be Taxed

Binance (BNB), a premier environment for cryptocurrencies, is nearing the installation of a fee on LUNC transactions. 1.2% burn tax is implemented by BNB in two stages.

Terra Classic Transfers On Binance Will Be Taxed
Terra Classic Transfers On Binance Will Be Taxed

Binance (BNB) implements 1.2% burn tax

The cryptocurrency exchange BNB announced its decision to introduce a 1.2% token burn rate on each transaction, according to Mr. Wu, who shared the news on Twitter.

https://twitter.com/WuBlockchain/status/1573518869721141248

Two phases will be taken to implement the significant update. The tax will only be applied to “opt-in” traders when the quantity of LUNC tokens deposited in “opt-in” (“approving”) accounts.

The tax will then be applied to all LUNC transfers for BNB users once the limit of the LUNC share maintained per opt-in account reaches 50%. As a result, BNB may soon surpass other crypto exchanges in size by implementing LUNC transfer taxation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

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