Binance US To Remove Hundreds Of Trading Pairs; Halts OTC Trading

Binance News: The U.S. arm of the world’s biggest exchange Binance on Wednesday announced that it will be removing hundreds of thousands of trading pair on June 8, 2023. This major development comes in when the Securities and Exchange Commission (SEC) filed an emergency motion in the federal court to freeze the Binance.US platform.

Also Read: US Court Interrupts SEC’s Enforcement Against Crypto Exchanges

Binance.US Removes Major Trading Pairs

Binance.US reported that it has halted its over-the-counter (OTC) trading portal. The exchange hasn’t mentioned the estimated time of resuming this service. It assured that the user assets will remain safe and secure with the crypto exchange, while deposits and withdrawals will function normally.

The crypto exchange mentioned that it will remove USDT, BTC, and BUSD Advanced Trading pairs including AAVE/USDT, AXS/USDT, BCH/USDT, 1INCH/USDT, APE/USDT, ATOM/BTX, DOT/BTC, UNI/BTC, MANA/BTC, and HBAR/BUSD.

Binance’s U.S. arm in order to make its convert offering efficient, will reduce the number of supported convert trading pair to 226. The crypto exchange will be supporting crypto assets including USDT, USDT, USDC, BNB, ETH, BTC, FET, ATOM, APT, MATIC, and LTC. However, the list also includes meme coins Dogecoin (DOGE) and Shiba Inu (SHIB). Read More Binance News Here…

Largest Crypto Exchange Face Legal Uncertainty In US

As per reports, the commission moved forward in the federal court to freeze Binance.US’s assets. The freezing order includes two of Binance’s U.S. holding companies. However, the order would apply to the exchange’s accounts held in Silvergate Bank, Axos Bank, Prime Trust, and more.

Also Read: This Amendment In US Crypto Bill Can Lead SEC To Reimburse On Losing

Binance’s BNB price registered a major drop as US SEC filed 13 different charges on the world’s largest crypto exchange. BNB price is down by 14% in the last 7 days. It is trading at an average price of $263, at the press time.

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Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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