The world's largest cryptocurrency exchange Binance on Friday said it will remove the AUD trading pair from the exchange after ending support for many cryptocurrencies against the AUD trading pair recently. The move comes as Binance lost its banking partner in Australia after recent regulatory challenges in the country.
Based on an official announcement on May 26, crypto exchange Binance will remove and stop trading on some spot trading pairs for some cryptocurrencies. These include Bitcoin, Ethereum, Dogecoin, XRP, Cardano, Solana and MATIC.
Binance ends support for ADA/AUD, AUD/BUSD, AUD/USDT, BNB/AUD, BTC/AUD, DOGE/AUD, ETH/AUD, GALA/AUD, MATIC/AUD, SOL/AUD, XRP/AUD as of June 1 at 6:00 UTC. Exchanges continue to halt trading against the Australian dollar (AUD).
Binance will also end its Trading Bot service for this pair. On May 24, Binance released 8 trading pairs against the AUD,
Binance began to face problems in Australia after the Australian Securities and Investments Commission (ASIC) began an investigation into the exchange for mistakenly categorizing traders as wholesale investors.
Last week, the exchange suspended Australian dollar deposits after it lost an Australian banking partner. AUD deposits and withdrawals are having problems.
Trading volume on Binance fell massively amid a regulatory crackdown by several regulators. Binance CEO CZ informed that the exchange is facing intense scrutiny after the fall of FTX. Volume has failed to keep pace with stablecoin TUSD.
