Binance has announced that it will remove some trading pairs from its platform including 4 BUSD and 10 BNB pairs, following the ongoing legal tussle w
Binance has announced that it will remove some trading pairs from its platform including 4 BUSD and 10 BNB pairs, following the ongoing legal tussle with the SEC.
The world’s largest crypto exchange by trade volume made this known earlier today via an announcement on its official website. According to the notice, Binance will cease offering the listed trading pairs within 48 hours from press time.
This development comes following the SEC’s legal action against the crypto firm. The lawsuit claims that Binance offers unregistered securities of which BNB and BUSD were classified as such.
The trading pairs which are to be delisted include:
BIFI/BUSD, DASH/BNB, FIO/BUSD, GAL/BNB, ILV/BNB, KLAY/BNB
- LIT/ETH, MC/BNB, MINA/BNB, MLN/BUSD, ONE/ETH, OXT/BUSD
- PEOPLE/BNB, PEOPLE/ETH, QNT/BNB, WAXP/BNB, XTZ/ETH, ZEC/BNB, ZRX/ETH
The removal will happen on 2023-06-14 according to the statement and it will be done in three sections. The first listed pair groups will be removed at 03:00 (UTC), the second listed pair groups will be removed at 06:00 (UTC), and the final pair groups will be delisted at 08:00 (UTC).
Related Reading: BNB Price Dips as Unknown Wallet Transfers 63,340 BNB to Binance
Interestingly, Binance will remove 4 BUSD and 10 BNB trading pairs as seen on the list. The removal of these trading pairs has specific implications for BNB, Binance’s native coin. This step follows a contentious revision to Binance’s terms of service, which stated the exchange’s right to decide whether to modify the delisted cryptocurrencies without informing users in advance.
Users should take note
Meanwhile, Binance has assured users that they can still trade the above-listed pairs on other trading pairs that are available on the platform. Also, Binance also announced the termination of trading bot services relating to the mentioned pairs.
The trading bot services will be ceased at 2023-06-14 03:00 (UTC), 2023-06-14 06:00 (UTC), and 2023-06-14 08:00 (UTC) respectively. Users are therefore advised to cancel their trading bots before the mentioned time to avoid any loss.
In other news, the Nigerian SEC declared on June 10 that Binance Nigeria is unregistered and that its operation is illegal. Read more HERE.
BNB price today
According to live data from CoinMarketCap, the price of BNB today is $233.08. The price is down 1.22% in the last 24 hours. What’s more, BNB is one of the top cryptocurrencies in the market and is ranked #4 on the CoinMarketCap chart with a live market cap of 36,326,580,828.