Global cryptocurrency regulations have been tightening, particularly following the hacking incident involving the FTX exchange. Many countries have introduced various rules and continue to set them for cryptocurrency exchanges. One significant rule has been the requirement for global exchanges to establish local companies. Binance is pushing this requirement further in Turkey.
Binance TR Delist
Binance Turkey has notified its users through an email that numerous trading pairs involving USDT, FDUSD, TUSD, and USDC will be delisted. Historically, users predominantly traded in dollar-indexed stablecoin pairs due to the global pricing being in dollars. Among these pairs, USDT has been the most widespread for altcoin trading in Turkey.
Recently, mandatory account verification between Binance Global and Binance TR was disclosed. The latest announcement is about the removal of dollar-indexed pairs en masse. From 3:00 AM Turkey time on November 27, users will no longer be able to trade altcoins in these stablecoin pairs.
Trading in dollar-indexed pairs, such as ADA, ARB, and AVAX to TUSD/USDT, will be discontinued.
How Will It Affect Users?
Users of Binance TR will still be able to buy and sell their holdings, but these transactions will occur in Turkish Lira (TRY) pairs instead of dollar pairs. This move aligns with the regulatory compliance commitments that Binance must adhere to concerning local regulations.
Some users are concerned about what will happen to the altcoins they purchased through USDT or USDC pairs. There will be no change to the altcoins themselves. Users can sell and repurchase the cryptocurrencies in the TRY pair. For example, if last year you bought Bitcoin (BTC) 
$77,129 at 70,000 USDT in the BTCUSDT pair, your Bitcoin balance remains the same but will be sold under the TRY pair instead of the USDT pair.
The main concern here is the potentially confusing cost of transactions in Turkish Lira. However, users can easily solve this by calculating the current value of an ALTCOINTRY pair using the contemporary USD rate to determine whether they are in profit or loss based on the rate on the purchase date.
