Binance delists popular pairs with Australian dollar due to regulatory hurdle
Binance has announced that several crypto-to-AUD (Australian dollar) spot trading pairs will be delisted on the exchange on May 26.
Binance, the world’s largest centralized bitcoin (BTC) trading venue and crypto exchange by trading volume, has revealed plans to stop supporting several BTC, AUD, and altcoin pairs on its spot trading platform.
The exchange says support for the APE/AUD, avalanche (AVAX) / Australian dollar(AUD), AXS/AUD, DOT/AUD, FTM/AUD, LINK/AUD, SAND/AUD, and SHIB/AUD pairs will also be indefinitely suspended at 05:00 UTC on the same date.
A lack of significant trading volume and the recent suspension of AUD deposits by Binance Australia could be the critical reasons behind this move.
Per an official announcement by the team on May, 24, the aptos (APT) / borealis (BRL), amp (AMP) / bitcoin (BTC), Bella Protocol (BEL) / ether(ETH), stafi (FIS) / borealis (BRL), galxe (GAL) / ether (ETH), and GMT/BRL pairs will be delisted at exactly 03:00 (UTC) on May 26, 2023.
Moreover, the GMT/GBP, JASMY/BTC, KP3R/BNB, REI/BNB, SANTOS/BRL, SMTX/BTC, and XTZ/BNB pairs will also be delisted.
Binance has made it clear that its trading bots services on the affected pairs will also be terminated on the same date. However, users will be able to trade the delisted assets versus other available trading pairs on the exchange.
At the time of writing, the price of BNB, Binance’s ecosystem token is exchanging hands for $308.84, representing a 1.6% decrease in the last 24 hours. BNB has a market capitalization of $48,733,522,667, with a 24-hour trading volume of $462 million, according to CoinGecko.
BNB is down by 54.99% from its all-time high (ATH) of $686.31 in May 2021.
