Binance introduces the zero commission promotion for EUR/USDC trading in the EEA

Binance recently announced the launch of a promotion that offers zero fees for the EUR/USDC trading pair, available for users in the European Economic Area (EEA). 

This initiative aims to facilitate cryptocurrency trading for European users, offering them the possibility to exchange euros for USD Coin without additional costs. 

With this promotion, Binance continues to strengthen its position as a leader in the cryptocurrency sector, providing advantageous solutions for its users. Let’s see all the details below. 

Trading opportunities EUR/USDC without commissions for Binance users

As anticipated, Binance has enthusiastically announced a new trading promotion with zero fees for all EUR/USDC spot trading pairs during the promotional period.

This is to celebrate the introduction of USDC as one of the main stablecoin compliant with the MiCA regulation in the EEA.

The promotion will take place from 00:00 (UTC) on July 3, 2024, to 00:00 (UTC) on August 2, 2024. Binance has also disclosed the terms and conditions of the promotion on the official site.

Let’s look at some crucial points. First of all, it is specified that the EUR is a fiat currency and does not represent other digital currencies. Secondly, of course, zero commissions.

That is to say that, during the promotional period, all users will benefit from zero maker and taker fees for the EUR/USDC spot trading pair. Further details on the spot trading pairs in promotion are available on the dedicated Binance page.

Again, the trading volume on the EUR/USDC pair will be excluded from the calculations of the VIP level volume and from the liquidity providers’ programs during the promotion. Additionally, there will be exclusions on discounts and refunds.

BNB discounts, referral rebates, and other adjustments will not be applicable to the EUR/USDC pair during the promotional period.

At the end of the promotion, standard trading fees will be applied. Users can refer to the Fee Structure for VIP levels for more details.

Suitability, trading volumes, fees, and more 

Binance also reserves the right to cancel the eligibility of a user to participate in the promotion in case of improper behavior, including wash trading, illegal mass account registrations, auto-trading, or market manipulation.

All trading volumes and metrics related to promotions will be measured by Binance at its sole discretion. 

Not only that, the calculation of refunds for maker and taker fees for all EUR/USDC spot trading pairs will resume after the end of the promotional period.

Attention as Binance reserves the right to cancel or modify the promotion or its terms and conditions at its sole discretion, for any reason and without notice. 

Finally, the crypto exchange reserves the right to disqualify participants who tamper with the program code or interfere with its operation using other software.

In any case, this promotion represents a unique opportunity for Binance users to benefit from commission-free trading for the EUR/USDC pair, further incentivizing the adoption of USDC as a regulated stablecoin in the EEA.

Coinbase cites the Binance BNB case in the petition against the SEC

Coinbase has recently filed a petition against the United States Securities and Exchange Commission (SEC), citing the case of Binance’s BNB token as a precedent.

The lawyers of Coinbase argue that the SEC has adopted a new and radical approach to securities laws, without providing clear and consistent regulation.

Coinbase is using the ruling of Judge Amy Berman Jackson in the case of the SEC against Binance to strengthen its position. 

In that ruling, the judge determined that secondary sales of Binance’s BNB token do not constitute sales of securities, according to the criteria of the Howey test. This precedent is cited by Coinbase to argue against the SEC’s approach.

In a letter, the lawyers of Coinbase criticized the SEC for the lack of consistency in its regulatory process. They wrote that the SEC “has never explained consistently” its method of regulation. 

On the contrary, it is trying to impose it retroactively on the digital asset industry through a campaign of aggressive enforcement.