Binancehas officially announced the delist operations it will take soon to protect its users. Spot buying pairs of these trading pairs will be removed as of February 2, 2024.
Binance Will Delist 7 Spot Trading Pairs
In the statement made by the exchange, it was underlined that the affected pairs did not consist of “underlying assets” and included Ethereum and BNB pairs as bid currencies.
BSW/BNB
KAVA/ETH
SCRT/ETH
SNX/BNB
UFT/ETH
WAN/ETH
The exchange stated that it will delist the seven trading pairs it listed in order to continue providing a quality trading platform. Trading pairs will be delisted due to poor liquidity and weak trading volume.
On the other hand, trading of base and quoted assets for these tokens remains possible through other active trading pairs on the platform. In addition, Binance will simultaneously discontinue Spot Trading Bot services for delisted pairs. Additionally, the exchange strongly recommends users to update or cancel their Spot Trading Bots before the removal of the above-mentioned pairs to reduce possible losses.
On the other hand, things are not going well for Binance in the regulatory arena as it is facing legal actions from various regulatory bodies around the world.
As we reported as Koinfinans.com, the SEC in the USA started to put pressure on issues such as production of evidence and witness statements in court.
The SEC alleges that Binance’s parent company, BAM Trading Services, did not fully comply with requests for information regarding the handling of client assets. This included an investigation into asset custody and liquidity, sparked by concerns about undisclosed control mechanisms similar to the FTX scandal.