This week: Binance US suspends fiat deposits and withdrawals, BNB Beacon Chain mainnet, Hinkal launches on BNB Chain, Acria.AI integrates with BNB Chain, and more BNB Chain updates.

KEY TAKEAWAYS 

  • Binance US Suspends Fiat Deposits and Withdrawals Amid SEC Lawsuit Pressure
  • BNB Beacon Chain Mainnet Set for June 15 Luban Upgrade
  • Hinkal Launches on BNB Chain – A New Era of On-Chain Privacy
  • Acria.AI Integrates with BNB Chain, Enabling The Use of BNB on Acria Intellichain. 
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ECOSYSTEM UPDATES

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Binance US Suspends Fiat Deposits and Withdrawals Amid SEC Lawsuit Pressure

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Binance US, the American counterpart of the global cryptocurrency exchange Binance, has announced the suspension of fiat deposits and withdrawals in response to pressure from an ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The move is aimed at protecting customers and the platform, and it will take effect from June 13, 2023. However, trading, staking, and deposit/withdrawal activities involving stablecoins and cryptocurrencies will continue to function normally.

Binance US revealed that it has been subject to aggressive and intimidating tactics employed by the SEC as part of its ideological campaign against the American digital asset industry. These tactics have also impacted the banks collaborating with Binance US, creating challenges in maintaining regular banking services.

BNB Beacon Chain Mainnet Set for June 15 Luban Upgrade

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BNB Beacon Chain will undergo a major upgrade called Luban on June 15, 2023, introducing new business rules and logic. 

Users holding BNB on exchanges or wallets do not need to take action unless instructed. Full node operators must upgrade to version v0.10.14 to maintain connectivity. The upgrade brings fast finality for blocks on BSC and fixes a bug related to Ledger. Regular BNB Chain users will not notice significant changes. 

For more information, refer to the official BNB Chain announcement.

Hinkal Launches on BNB Chain – A New Era of On-Chain Privacy

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Hinkal Protocol is now live on BNB Chain, offering privacy and security for digital asset transactions. Hinkal’s privacy layer enhances transaction confidentiality without compromising speed or cost advantages. 

Users can maintain anonymity, trade confidentially, and protect assets in shielded balances. Hinkal accepts BAB tokens for KYC verification, simplifying the process and expanding user base. As part of Binance MVB Accelerator Program, Hinkal strengthens privacy innovations for BNB Chain users, enterprises, and institutions. 

Acria.AI Integrates with BNB Chain, Enabling The Use of BNB on Acria Intellichain. 

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Acria Intellichain is an AI blockchain project designed to support AI applications and democratize the AI space. It aims to open up access to training data, fostering innovation and inclusivity. The platform facilitates the exchange and sharing of training data on the blockchain, promoting a fairer and more inclusive AI landscape.

Additional Notable Events

DeFi

GameFi, NFT, Meme

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