This is a general announcement. Products and services referred to here may not be available in your region.
Binance Square is pleased to launch the #Write2Earn promotion for all Binance Square creators. Eligible Binance Square creators who post qualified content on Binance Square during the Promotion Period, may each earn up to 5% trading fee commissions from their readers’ spot, margin and/or futures trade(s) on a first-come, first-served basis.
Promotion Period: 2024-01-22 00:00 (UTC) to 2024-02-25 23:59 (UTC)
How to Participate
Login to your Binance account, and go to Binance Square.Publish qualified content pieces (i.e., short posts, long articles or polls) that include the #Write2Earn hashtag and at least 200 characters. Get up to 5% in trading fee commissions from regular and VIP 1-2 users’ spot, margin and futures trade(s) (excluding copy trading) when they engage with your qualified content pieces (e.g., via likes, shares, quotes, comments), and complete the trade(s) within 180 minutes after the engagement.
Rewards Structure
Commissions rewards will be distributed in the form of USDT token vouchers to eligible Binance Square creators on a first-come, first-served basis. A total of 10,000 USDT in token vouchers is available in this promotion.If a regular or VIP 1-2 user engage with one or more qualified content piece(s) on Binance Square within 180 minutes before trading on Spot, Margin and/or Futures (excluding copy trading) during the Promotion Period, the eligible Binance Square creator(s) of these content piece(s) will qualify to equally share 5% in trading fee commissions from the above trade(s).
Post on Binance Square Now to Earn 5% Commission!
Notes
Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards.For each day of the Promotion Period, the maximum commission that an eligible Binance Square creator may receive is a 50 USDT token voucher. Commission rewards will only be distributed when the value of the reward is at least 0.1 USDT. Binance Square creators will not be eligible to earn any trading fee commissions from their own spot, margin, or futures trades.The commission rewards in this promotion is on top of commission-based rewards from the Standard Referral Mode.
About Binance Square
Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
For More Information
What Is Binance Square and Frequently Asked Questions
Terms & Conditions
This promotion may not be available in your region. Only Binance Square Creators who complete account verification are eligible to participate in this promotion. Media, project, or business/organization accounts are not eligible to join this promotion.Only short posts, long articles or polls that include the #Write2Earn hashtag and at least 200 characters will count as qualified content pieces. Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards from this promotion.Rewards Calculation and DistributionBinance will use the real-time exchange rates to calculate the commission rewards from every spot, margin and/or futures trade (excluding copy trading). Commission rewards will only be distributed to qualified Binance Square creators when the value of the overall commission rewards accumulated during the Promotion Period is at least 0.1 USDT. For eligible Binance Square creators who accumulate at least 0.1 USDT of commission rewards in each week of the Promotion Period, Binance Square will publish their weekly performances via its official account by the following Wednesday at 23:59 (UTC). Each week runs from Monday, 00:00 (UTC) to Sunday, 23:59 (UTC). Each day runs from 00:00 (UTC) to 23:59 (UTC). The USDT token voucher rewards will be distributed within 15 working days after the promotion ends. Upon successful distribution of rewards, winners will be notified via a separate push notification under Creator Center > Square Assistant. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this promotion if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this promotion.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-01-22

US Congress Passes First Standalone Crypto Legislation

The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty.
‘We Are Just Getting Started’
In a historic move, the U.S. Congress passed its first standalone crypto legislation last week. The bill seeks to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s Staff Accounting Bulletin No. 121 (SAB 121).
U.S. Senator Cynthia Lummis (R-WY) announced on social media platform X Thursday that the Senate’s passage of a Congressional Review Act (CRA) overturning SAB 121 is a significant victory for financial innovation and a clear rebuke of the way the Biden administration and SEC Chair Gary Gensler “have persecuted crypto.” She emphasized that this marks the first time Congress has passed standalone crypto legislation and indicated that further efforts are forthcoming. The CRA is a law that enables Congress to review and potentially overturn regulations issued by federal agencies.

SAB 121 mandates entities holding crypto assets for users to record these as liabilities and corresponding assets at fair value on their balance sheets. The bulletin has faced criticism for potentially imposing significant financial burdens on banks and financial institutions, possibly deterring them from offering crypto asset custody services.
House Financial Services Committee Chair Patrick McHenry (R-NC) described: “SAB 121 requires financial institutions and firms that are safeguarding their customers’ digital assets to hold those assets on their balance sheet, making it cost prohibitive to do so.” The congressman stressed:
Staff Accounting Bulletin 121 is one of the most glaring examples of the regulatory overreach that has defined Gary Gensler’s tenure at the SEC.
The U.S. House of Representatives voted to overturn SAB 121 earlier this month, followed by the U.S. Senate’s vote to repeal the bulletin last week.
However, President Joe Biden has threatened to veto the decision. According to a statement issued by the White House: “Limiting the SEC’s ability to maintain a comprehensive and effective financial regulatory framework for crypto assets would introduce substantial financial instability and market uncertainty.”
What do you think about the first standalone crypto legislation passed by U.S. Congress and the controversy surrounding SAB 121? Let us know in the comments section below. #Write2Earn

IMF Acknowledges Russian Assets' Confiscation Might Undermine the World's Financial System

The IMF has expressed its concerns about the possible outcome of the confiscation of Russian assets abroad as a consequence of the ongoing military conflict between the nation and Ukraine. Julie Kozack, a spokesperson for the institution, called for these actions to have a proper justification to avoid threatening the world’s financial system.
IMF Calls for Proper Action Regarding Confiscation of Russian Assets Abroad
The possible confiscation of Russian assets abroad has prompted different analysts and even international organizations like the International Monetary Fund (IMF) to express their opinions on how this should be carried out. Given the recent approval of the Rebuilding Economic Prosperity and Opportunity (REPO) Act by the U.S. House, which empower to the U.S. president to confiscate these assets, some have raised concerns about how this might affect the financial system.
Julie Kozack, a spokesperson for the IMF, remarked on the need for due process when taking any actions regarding a takeover of these Russian assets.
According to Sputnik, Kozack stated:
What is important for the IMF is that any action taken has a sufficient legal basis and does not harm the functioning of the international monetary system.
While the REPO act still has to go through the U.S. Senate, if approved it would affect the future of $6 billion in Russian assets held on American soil, that would be used to provide humanitarian and economic assistance to Ukraine.
Analysts estimate that the approval of the REPO Act could give origin to a change in the structure of the international economic system, supercharging the existent initiatives seeking to substitute the role of the U.S. dollar as a reserve currency. This could also empower the European Union to pursue similar measures against Russia.
Nonetheless, officials of the Bank of Russia have disregarded the effects of the approval of the REPO Act on Russia’s economic stability. Bank of Russia Governor Elvira Nabiullina had stated this would not have “any impact,” because the institution had “stopped operations on frozen assets for a long time.”
What do you think about the IMF’s statements on confiscating Russian assets in foreign countries? Tell us in the comments section below. #Write2Earn