Binance is set to remove nine margin trading pairs on September 7. The exchange will initially halt isolated margin borrowing for these pairs. This move comes after regulatory scrutiny impacted BUSD, resulting in a loss of over $30 billion in value this year.
Binance, the largest cryptocurrency exchange, has announced the removal of several margin trading pairs, particularly those involving its stablecoin BUSD. The pairs to be removed are AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, IOST/BTC, NULS/BUSD, PORTO/BUSD, and REQ/BUSD.
This change will apply to both Binance’s cross-margin and isolated margin trading. The removal will take effect in two steps. First, isolated margin borrowing for these pairs will be suspended starting September 1. Then, on September 7, positions will be automatically settled, pending orders will be canceled, and the pairs will be removed.
Binance suggests its users take action before the margin trading ends. They are advised to close their positions or move their assets from Margin Wallets to Spot Wallets. However, the exchange won’t take responsibility for any potential losses due to the delisting.
Despite the delisting, users can still trade the affected assets using other trading pairs on the platform. The exact reason for delisting the nine BUSD pairs was not explicitly stated by Binance. It’s worth noting that the Binance stablecoin, BUSD, faced regulatory challenges this year, leading to a significant decrease in its market share.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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