Poloniex Suspends Supporting Stablecoins On BEP20 Network

The BEP20 (BSC) network’s stablecoin deposits and withdrawals will no longer be supported starting on November 24, according to crypto exchange Poloniex.

Poloniex has reportedly halted supporting BEP20 network deposits for USDT, USDC, TUSD, and Binance’s own BUSD, according to a recent release. Other BSC-based coins’ deposit and withdrawal features, however, will continue to work.

As stated in its terms of use, the exchange reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice; it made no further comment on the action taken.

The announcement also advises users to deposit and withdraw stablecoins using the ERC20 and TRC20 networks, and it states that the team will provide equivalent multichain solutions for each stablecoin.

However, some users are currently complaining about stablecoin deposits on the BSC network in the past.

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