"That's so much trouble that I have to throw it away."
Cryptocurrency giant Binance has reportedly removed several trading pairs including the Australian Dollar (AUD) as its platform is investigated by ASIC over its operations and compliance with local regulations.
Through a blog post titled “Trading Pair Removal Notice”, the Binance team revealed that the spot trading pair will be removed and cease trading on a certain date and time. Here is the list:
APT/BRL, AMP/BTC, BEL/ETH, FIS/BRL, GAL/ETH, GMT/BRL
APE/AUD, AVAX/AUD, AXS/AUD, DOT/AUD, FTM/AUD, LINK/AUD, SAND/AUD, SHIB/AUD
GMT/GBP, JASMY/BTC, KP3R/BNB, REI/BNB, SANTOS/BRL, STMX/BTC, XTZ/BNB
Although Binance has terminated the Trading Bots service for spot trading pairs, Binance said users can still trade the affected assets on other trading pairs available on the platform.
In general, the removal of the AUD trading pair effective May 26, 2023 is one of the strategic moves by Binance in response to the regulators in Australia acting aggressively against it.
In fact, the crypto exchange also ordered ASIC to revoke the service license of Australian Oztures Trading Pty Ltd operating as Binance Australia Derivatives following misclassification of some retail investors as wholesale investors.
Even so, Binance which suspended the AUD service last week has written in a statement that they will do their best to rebuild the service in Australia.
This is because the crypto exchange has faced demands from the Commodity Futures Trading Commission (CFTC) of the United States (US) and other regulatory actions in the United Kingdom (UK), Japan, Italy and Singapore.
