Chanpen Zhao proposed to tax transactions with Terra Classic – Bits Media

The largest cryptocurrency exchange of the world will phased to introduce a fixed taxation of transactions to improve the price characteristics of LUNC.

Binance CEO Changpeng Zhao (Changpeng Zhao) Recommended to introduce a fixed tax on transactions in the amount 1.2% for transactions with Terra Classic (Lunc) to burn token and general reduction in the market supply:

“We will introduce the function of issuing a transaction tax in the amount on the site 1.2% from operations with LUNC. But we will begin to tax only after, as 25% LUNC investors will subscribe to the burning of tokens ".

He added, that the mandatory tax for all users will be introduced on the platform only after, as volumes of traders operations, subscriptions, reached 50% from all LUNC transactions on the exchange. Zhao's proposal divided the Luna community into two camps. A number of users supported the decision of the general director of Binance, While others perceive the solution as a tool for manipulating the market.

Even though Zhao supported the burning of LUNC, But he thinks, that only the community vote will allow users of the platform to finalize a proposal for taxation of transactions with LUNC: "We listen to our users and protect them". Nevertheless, Zhao understands, what, if taxation is not introduced on all crypto -streaks and on the market, BINANCE users will prefer to move LUNC to other crypto -rings, on which the combustion of token is not provided.

Recall, that in May the cryptocurrency exchange Binance posted Terra 2.0 (LUNA) in the innovation zone and opened the trade in pairs Luna/USDT and LUNA/BUSD 31 May.