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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.
The 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.
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