TechFlow, Aug 7 — According to Cointelegraph, cryptocurrency exchange Coinbase will begin charging a 0.1% fee on USD conversions from USDC transactions with net exchange amounts exceeding $5 million within 30 days, effective August 13.
Coinbase executives said the move aims to understand the impact of fees on USDC withdrawals, especially as some competitors charge higher withdrawal fees. Analysts suggest the policy may be intended to curb arbitrage behavior where users convert USDT to USDC before withdrawing in USD.
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