Tether ceases USDT support for Bitcoin, Kusama, and Bitcoin Cash blockchains

Tether, a prominent stablecoin issuer, has announced its decision to discontinue USDT blockchain support for Bitcoin, Kusama, and Bitcoin Cash, citing a meticulous evaluation of factors encompassing security, compliance, and customer support.

Timeline of Bitcoin-cash, Tether

Key Points: Binance has announced the issuance and conversion of delisted New Bitshares (NBS) tokens held by its users. This transition is set to take place promptly at 08:00 on September 9th, with a snapshot taken to determine the NBS token balances based on users' Binance Wallet location records.

Tether, the largest stablecoin issuer, announced it would stop supporting several smaller blockchain protocols over the coming year. This move reflects Tether's migration toward larger networks like Ethereum and Tron. Specifically, Tether will cease issuing and interacting with the dollar-pegged USDT token on Omni, Kusama, and Bitcoin Cash by August 17th, 2022.

On August 17th, Coinbase announced that it would halt trading of Tether (USDT), Dai (DAI), and RAI stablecoins for Canadian users starting August 31st. This move comes in response to changing regulatory requirements in Canada, where authorities have been tightening their grip on the crypto industry.

Tether, the stablecoin issuer, is set to halt its support for USDT on the Bitcoin, Kusama, and Bitcoin Cash platforms following a strategic evaluation of blockchain usage and efficiency

Coinbase, a prominent cryptocurrency exchange, has recently announced its decision to suspend trading of certain stablecoins for Canadian users starting from August 31. This development comes as part of Coinbase's ongoing efforts to ensure that the assets listed on its platform align with its stringent listing standards.

Tether (CRYPTO: USDT) Thursday announced that it will discontinue its support for USDT on the Bitcoin (CRYPTO: BTC), Kusama (CRYPTO: KSM), and Bitcoin Cash (CRYPTO: BCH) blockchains. What Happened: The stablecoin issuer evaluated the current transport layers and determined their relevance in the blockchain ecosystem.

Based on a number of internal Analysis indicators, Tether Limited ceased supporting its flagship product USDT, the largest stablecoin, on three blockchains. Omni, the first platform USDT utilized since 2014, is also on the list.

Tether, the issuer of $82 billion market cap stablecoin USDT, has announced that it will discontinue support for three blockchains as part of a strategic transition aimed at meeting community demand and fostering innovation.

Tether, the prominent stablecoin issuer, has unveiled a strategic shift in its support for various blockchains. Starting August 17, 2023, Tether will cease the issuance of USDT on Polkadot's Kusama test chain, Bitcoin's Omni Layer, and Bitcoin Cash's SLP implementation.

With the Bitcoin Cash network's May 15 Cashtokens upgrade now three months behind us, bustling development in non-custodial wallets, marketplaces, non-fungible tokens (NFTs), games, and other applications continues unabated.