Key Points:
In a recent announcement, Binance disclosed the removal of several spot trading pairs on September 22, 2023. Notable pairs to be delisted include ACA/BUSD, ALPHA/BUSD, ALPINE/BUSD, ANT/BUSD, ASR/BUSD, ATM/BUSD, BAL/BUSD, DGB/BUSD, FIRO/BUSD, GAL/BUSD, OOKI/BUSD, PORTO/BUSD, PSG/BUSD, RVN/BUSD, and TWT/BUSD.
Furthermore, the exchange has urged users to convert their BUSD holdings to other stablecoins before February 2024. This move follows regulatory pressures on Paxos, the issuer of BUSD, which compelled Binance to cease its support for the stablecoin.
This decision aligns with its recent trend of gradually discontinuing BUSD trading pairs, spanning spot, margin, and futures markets. Additionally, newly listed cryptocurrencies no longer have trading pairs with BUSD on the platform.
The removal of BUSD from spot trading pairs is part of the exchange’s broader strategy to implement changes aligned with its exchange policies. BUSD has also been phased out of various Binance products, including Liquidity Pools, Gift Cards, Lending, and leveraged transactions.
Coinbase, another major cryptocurrency exchange, had previously delisted BUSD on March 13, 2023, citing concerns over regulatory compliance as the token failed to meet its listing standards.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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