Binance announced it will stop supporting Tron network-based USD Coin (USDC) stablecoins by April 5, following Circle's decision to leave the Tron blockchain. Users must withdraw their assets or convert them to USDC on other networks within two weeks. Transactions involving USDC on networks like Ethereum remain unaffected.

The Philippines' Securities and Exchange Commission (SEC) plans to block Binance access within three months due to the platform's lack of registration in the country. Circle's abrupt decision to end support for Tron-based USDC last month was influenced by various internal departments, including business organization and compliance.Tron network's founder, Justin Sun, respected this decision, emphasizing the decentralized structure shared with Bitcoin and Ethereum that Tron has.

Circle had severed ties with Sun last year, following concerns from organizations such as the United Nations about the blockchain's alleged involvement in illicit financial activities. USDC is the second-largest stablecoin by market capitalization and has seen a rapid increase in circulating supply since the start of the year. Data reveals $172 million worth of USDC on the Tron blockchain.

The Philippines SEC issued a warning against using Binance, aiming to block the platform in the country to protect citizens from unregistered investment products. They also urged Google and Meta to stop Binance-related advertising directed towards Filipino users. Last year, a cautionary advisory was issued against Binance for its unregistered activities in the country. Binance is facing increased regulatory scrutiny in various jurisdictions, including the United States and Nigeria.