Breaking: Binance Removes Top Crypto AUD Trading Pairs
Binance, the world’s largest cryptocurrency exchange, has announced the removal of several trading pairs, including those involving the Australian Dollar (AUD), from its platform. The news comes amid regulatory challenges faced by the exchange in Australia. Binance has been under investigation by the ASIC regarding its operations and compliance with local regulations.
Binance Halts Spot Trading Pairs
In the blog post titled “Notice of Removal of Trading Pairs,” they revealed that the following spot trading pairs would be removed and cease trading on specific dates and times:
At 2023-05-26 03:00 (UTC): APT/BRL, AMP/BTC, BEL/ETH, FIS/BRL, GAL/ETH, GMT/BRL
At 2023-05-26 05:00 (UTC): APE/AUD, AVAX/AUD, AXS/AUD, DOT/AUD, FTM/AUD, LINK/AUD, SAND/AUD, SHIB/AUD
At 2023-05-26 06:00 (UTC): GMT/GBP, JASMY/BTC, KP3R/BNB, REI/BNB, SANTOS/BRL, STMX/BTC, XTZ/BNB
Binance clarified that users would still be able to trade the affected assets on other available trading pairs within the platform. Additionally, the exchange announced the termination of Trading Bots services for the mentioned spot trading pairs on the respective dates and times.
Binance Licence Cancelled In Australia
The removal of AUD trading pairs, scheduled to take effect on May 26, 2023, is seen as a strategic move by Binance in response to the regulatory challenges it faces in the country.
ASIC cancelled the Australian financial services license of Oztures Trading Pty Ltd, operating as Binance Australia Derivatives, following a request from the company. The cancellation was in response to ASIC’s ongoing “targeted review” of exchange, which began after it was misclassified some retail investors as wholesale investors.
Read More About ASIC and Binance..
Coingape reported that Binance suspended Australian dollar (AUD) services last week.
Exchange said in a statement it had decided to pursue a “more focused approach” in Australia after “recent engagement with ASIC”.
Australia probe is not in vaccum, the exchange is facing United States Commodities Futures Trading Commission (CFTC) lawsuit and other regulatory actions in the United Kingdom, Japan, Italy, and Singapore.
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
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.
