NewsletterBreaking: Binance Ceases Australian Dollar (AUD) Trading Pairs For Bitcoin And Other Crypto
The world’s largest crypto exchange Binance on Friday said it will remove other AUD trading pairs from the exchange after recently ending support for many cryptocurrencies against AUD trading pairs. The move comes as Binance lost its banking partner in Australia after recent regulatory challenges in the country.
Binance To Cease Crypto Trading on AUD Trading Pairs
According to an official announcement on May 26, crypto exchange Binance will remove and cease trading on several spot trading pairs for several top crypto. These include Bitcoin, Ethereum, Dogecoin, XRP, Cardano, Solana, and MATIC.
Binance to end support for ADA/AUD, AUD/BUSD, AUD/USDT, BNB/AUD, BTC/AUD, DOGE/AUD, ETH/AUD, GALA/AUD, MATIC/AUD, SOL/AUD, XRP/AUD from June 1 at 6:00 UTC. The exchange continues to cease trading against Australian dollar (AUD).
Binance will terminate its Trading Bots service for these pairs. However, users can continue to trade these top crypto against other trading pairs on the platform.
On May 24, Binance removed 8 trading pairs against AUD, potentially starting to end the fiat support after recent challenges faced in Australia.
Also Read: Ethereum Balance On Crypto Exchanges Fell 5-Yr Low, ETH Price To Rise Or Fall?
Binance Facing Challenges in Australia
Binance started facing troubles in Australia after the Australian Securities and Investments Commission (ASIC) started a probe against the exchange for mistakenly categorizing traders as wholesale investors.
Last week, the exchange suspends Australian dollar deposits after it loses Australian banking partner. The AUD deposits and withdrawals faced problems.
The trading volume on Binance fell massively amid regulatory crackdowns by several regulators. Binance CEO CZ responded that the exchange is facing intense scrutiny after the FTX collapse. The trading volume has failed to pick pace with TUSD stablecoin.
Also Read: Best Crypto Exchange Affiliate Programs In 2023
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Expert Predicts Further Downside For Bitcoin As Fear and Greed Index Drops To 10
- Solana and XRP ETFs Attract Fresh Inflows Even as Crypto Market Falls
- BLS to Release Jobs Report on Nov. 20 as Uncertainty Over Fed Rate Cut Persists
- JPMorgan calls Bitcoin Price Bottom, Predicts It Will Challenge Gold Next Year
- Zcash to Surpass XRP? Arthur Hayes Makes Bold Claim Amid ZEC’s 45% Rally
- Litecoin Price: With a 12% Surge and Pearson BTC Correlation at –0.01, Is LTC Gearing Up for $125?
- What’s Next for Chainlink Price After 53.87 Million Tokens Accumulated
- What the New Bitcoin Model Predicts About a Possible $200K BTC Price Target?
- Zcash Price Soars 45%: Here’s Why
- Bitcoin Price Pattern Points to a Crash to $62k as Fed Cut Odds Fall to 54%
- Zcash Price Defies Market Crash: Will Shrinking Exchange Netflows Keep ZEC Rallying?
