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According to a recent announcement, top crypto exchange Binance has made known its decision to delist some trading pairs, notably a few cryptocurrencies paired against BUSD and BNB.
In this regard, the IOTA vs. BNB trading pair, as well as that of Ankr vs. BNB, would be affected. The delisting action for these pairs is scheduled for Sept. 1, at 3:00 UTC.
Aside from those of IOTA and Ankr, in a blog post, Binance stated it will remove and cease trading on the spot trading pairs of CVC/BUSD, EPX/BUSD and HIVE/BUSD on Sept. 1 by 3:00 UTC.
An hour later on the said date of Sept. 1 date, at 4:00 UTC, Binance will cease trading of the spot trading pairs of KLAY/BUSD, LRC/BNB, MBL/BUSD, MTL/ETH and UMA/BUSD.
Binance states the spot trading bot services for the aforementioned spot trading pairs would be terminated where applicable and urges users to update and/or cancel their spot trading bots before the cessation of spot trading bot services to avoid any potential losses.
Tomiwabold OlajideThe delisting of BUSD pairs comes as cryptocurrency exchange Binance continues to phase out support for BUSD. This comes following a regulatory crackdown on BUSD stablecoin earlier this year.
As a result, Paxos terminated its relationship with Binance for the branded stablecoin BUSD and ceased the issuance of new tokens, as directed by the New York Department of Financial Services (NYDFS).
However, BUSD will remain fully supported by Paxos and redeemable for onboarded customers through at least February 2024.
In June, the SEC launched a lawsuit against Binance, alleging the offering of unregistered securities via its platform.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team