Is there a particular reason why they decided to do this? It wasn't mentioned in their notice. I can only assume it's because of the regulators but why choose 0.06 BTC?
Maybe because of btc to usd value, though it could be much sense when bitcoin rose $60k. Also, a requirement from regulators is one of the reasons as well.
That's what I was thinking as well. I've noticed that some exchanges change withdrawal fees for various coins when their prices swing wildly up or down. I know that isn't quite the same thing, but it's the same principle.
Definitely withdraw if you have large amounts in Binance. Anything more than 0.06 at this stage is asking for trouble.
Agreed. Binance is one of the most trusted exchanges out there, but in the end they're still a crypto exchange and nobody should be keeping even 0.06
BTC on it unless they're going to be trading within a relatively short time span. If you don't allow an exchange to control your private keys, you'll never have any problems with withdrawals--it's as simple as that.
As much as I hate the decision, one can only respect the way they did it, because and unlike some other exchanges out there, they notified the users before applying the changes, and also gave them enough time to withdraw their funds.
They did do it the right way, and I also give them credit for that. It does suck that they were no doubt forced to make the change, however.
