Binance Spot Trading Pairs Delisting
Binance, a leading cryptocurrency exchange, is set to remove several spot trading pairs, including Ethereum and Binance Coin (BNB), as part of its routine reviews for user protection and market robustness.
The affected spot trading pairs are scheduled to be removed from Binance Spot trading on Friday, February 2, at 3 a.m. UTC.
List of Delisted Trading Pairs
It’s important to note that the affected pairs feature Ethereum and BNB as the quote currencies and not the base currencies. The trading pairs set to be delisted include:
- BSW/BNB
- KAVA/ETH
- SCRT/ETH
- SNX/BNB
- UFT/ETH
- WAN/ETH
The decision to delist these pairs is based on various factors, such as poor liquidity and trading volume, aligning with Binance’s commitment to maintaining a high-quality trading environment. However, users are reassured that the removal of a spot trading pair does not impact the availability of the respective tokens on Binance Spot.
Trading the base and quote assets for these tokens remains possible through other active trading pairs on the platform. Binance will also terminate Spot Trading Bots services for the delisted pairs at the same time. Users are strongly advised to update or cancel their Spot Trading Bots before the removal of the above-mentioned pairs to mitigate potential losses.
Recent Legal Quandary
However, Binance is currently facing legal challenges in the regulatory domain. It is undergoing legal actions by various regulatory agencies worldwide, particularly the U.S. Securities and Exchange Commission (SEC).
The legal clash intensified recently as court documents revealed a heightened dispute over evidence production and witness depositions between Binance and the SEC. The SEC alleges that BAM Trading Services, Binance’s parent company, hasn’t fully complied with requests for information regarding the handling of customer assets.
This includes probing into asset custody and liquidity, sparked by concerns about undisclosed control mechanisms similar to the FTX scandal. BAM’s attorneys counter that the company has met all document production requirements under the consent order, accusing the SEC of burdening BAM with its Temporary Restraining Order and expedited discovery methods.
The scope of the SEC’s investigation is now contested, with BAM arguing it exceeds the agreed terms, delving into broad examinations of custody policies beyond asset safety and accounting.
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