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Notice of Removal of Trading Pairs - 2023-08-04
2023-08-02 04:05
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance will remove and cease trading on the following spot trading pairs at 2023-08-04 03:00 (UTC):
Spot Pairs: ATA/BUSD, BNT/BUSD, COS/BUSD, DF/BUSD, DOCK/BUSD, OSMO/BUSD, STRAX/BUSD, XNO/BUSD
Please note:
Users can still trade the above assets on other trading pairs that are available on Binance.
Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2023-08-04 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
https://www.binance.com/en/support/announcement/notice-of-removal-of-trading-pairs-2023-08-04-c2bc8eaae3264576921b4999cf00fe122023-08-02 04:05
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance will remove and cease trading on the following spot trading pairs at 2023-08-04 03:00 (UTC):
Spot Pairs: ATA/BUSD, BNT/BUSD, COS/BUSD, DF/BUSD, DOCK/BUSD, OSMO/BUSD, STRAX/BUSD, XNO/BUSD
Please note:
Users can still trade the above assets on other trading pairs that are available on Binance.
Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2023-08-04 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
So, I got a notification from Binance about the termination of their Trading Bots services for some spot trading pairs. I am curious by nature and it didn't take me few minutes to try and investigate why, seeing that the major token in the pairs to be terminated is BUSD. Here's my deduction on the reason why:
'Binance has been under a serious lawsuit from the U. S SEC for sometime now and it could be why Binance management has taken some steps to remove these trading pairs inorder to reduce the pressure of SEC’s attack on the surface. Perhaps, the U.S SEC will treat the case against the top exchange with more leniency.
I also think that Binance could be taking this step because its origin isn't from the U.S, thus why the attack on the exchange is bearing down hard. It is also that the U.S SEC could be rallying around a new comer exchange project which will be launched in the U.S and would allow regulation of its decentralized system for customers/users by the SEC.
Could it also be that since the BUSD tokens are backed by US banks, they poise as fully secure because the FDIC-insured these US banks that BUSD uses.
BUSD also has the features of a normal bank because it is fully collateralized, meaning that it is backed/supported by an equivalent amount of US dollars which is currently held in its reserve.
With these aforementioned points, one that stands out is the fact that maybe Binance simply want to be decentralized. The exchange may want to delve fully into cryptocurrencies by concentration of focus on working model and not be bothered about the government and their dollar rates, fees and regulations.
What's your take on this?
Any thoughts?