The post Binance To Delist 8 BUSD Trading Pairs: Here’s Everything Traders Should Know appeared first on Coinpedia Fintech News

Binance, the world’s leading cryptocurrency exchange, has announced the delisting of eight BUSD trading pairs from its margin trading platform. This strategic decision comes amidst a flurry of regulatory scrutiny and recent concerns surrounding Binance’s native token, BNB.

#Binance Margin will delist 8 pairs across Isolated and Cross Margin.

More details here https://t.co/4BaYLNSCe2

— Binance (@binance) June 15, 2023

With the global regulatory spotlight shining brightly on cryptocurrency exchanges, Binance finds itself in the crosshairs of multiple investigations and warnings. In a bid to address concerns about potential noncompliance with local laws and regulations, Binance takes decisive action by delisting certain BUSD trading pairs.

Eight Pairs Delisting Details Unveiled

Binance’s delisting decision targets specific trading pairs, including FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD, and SC/BUSD in isolated margin trading. Additionally, MBL/BUSD and PUNDIX/BUSD will bid farewell to the cross-margin trading platform. As of 6:00 a.m. UTC on June 22, 2023, these pairs will cease to exist on Binance, reshaping the trading landscape for users.

Binance outlines a meticulous timeline to ensure a smooth transition. Starting from 6:00 a.m. UTC on June 16, 2023, isolated margin borrowing for the affected pairs will be suspended, signaling the initial steps of the delisting process. Subsequently, six days later, Binance will automatically close users’ positions, cancel pending orders, and bid adieu to these pairs on the isolated margin platform.

Concurrently, the MBL/BUSD and PUNDIX/BUSD cross margin pairs will also be delisted from cross margin trading. Traders are urged to stay vigilant during this period and transfer their assets to Spot Wallets to mitigate potential losses.