In a strategic move aimed at optimizing the trading experience for its users, Binance, the world’s largest cryptocurrency exchange, has announced the delisting of several products involving XRP and Cardano (ADA).
This decision comes as part of Binance Liquid Swap’s periodic review of listed liquidity pools to concentrate liquidity, reduce slippage and enhance transaction prices.
The move, scheduled for Dec. 22, will see the removal of various liquidity pools, including ADA/ETH, ADA/USDT, XRP/BNB, XRP/BTC and XRP/ETH, among others. As reported, Binance Liquid Swap aims to streamline its offerings to ensure an optimized trading environment for its users.
Black and yellow
This decision, however, occurs against the backdrop of increased regulatory attention directed at Binance, particularly from the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).
Binance has been under investigation throughout the year, leading to a recent settlement with the DOJ, involving a substantial $4.3 billion fine, the departure and trial of the CEO, and comprehensive compliance changes.
The DOJ has outlined stringent monitoring operations that Binance must adhere to, including providing access to all requested information and documents, monitoring anti-money laundering (AML) activities and overseeing the movement of assets.
Former SEC agent John Reed Stark suggests that these measures could potentially lead to the closure of the exchange.
Despite the settlement with the DOJ, Binance’s regulatory challenges are far from over. Recent statements from SEC executives indicate that the SEC’s lawsuit against Binance will proceed independently, prolonging the uncertainty surrounding the exchange’s future.
Source: https://u.today/binance-to-cut-these-xrp-and-ada-products-as-exchange-remains-aim-for-sec