Binance Delists BUSD Pairs Amid Regulatory Scrutiny | June 15, 2023

#Binance, the world's leading crypto exchange, has announced the removal of eight BUSD trading pairs from its margin trading platform. This decision, scheduled to take effect from 6:00 a.m. UTC on June 22, 2023, is in response to heightened regulatory scrutiny and controversies surrounding the exchange's proprietary token, #BNB. The affected pairs include FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD, and SC/BUSD from isolated margin trading, as well as MBL/BUSD and PUNDIX/BUSD from cross margin trading. During the delisting process, Binance will prohibit isolated margin borrowing for the aforementioned pairs from 6:00 a.m. UTC on June 16, 2023. This will be followed by automatic liquidation of user positions, cancellation of pending orders, and the eventual removal of these pairs from its margin trading platform.

Binance, is facing investigations and warnings from authorities worldwide due to allegations of possible market manipulation to maintain the price of its native token, BNB. Binance strongly encourages traders to close their positions and move their assets from Margin Wallets to Spot Wallets before the cessation of margin trading on June 22, 2023, to avoid potential losses. #BNB #Crypto #MarketUpdate