Binance To Delist BTC & ETH Trading Pair Amid Legal Woes

The world's leading digital asset exchange Binance recently issued a notice for the delisting of BTC and ETH Margin Trading pairs.

As of today, November 23, Binance, one of the world’s leading cryptocurrency exchanges, issued a statement stating that the firm now plans to delist BTC/BUSD and ETH/BUSD cross-margin and isolated margin pairs.

The aforementioned decision to delist margin trading pairs seems to come forth prior the recent money laundering saga circulating the cryptocurrency exchange.

Moreover, the delisting announcement nabbed significant attention among crypto market enthusiasts as Binance recently announced plans to delist some of the major trading pairs on its platform.

Delisting Announcement
As per the statement issued by Binance, Binance Margin will delist the BTC/BUSD and ETH/BUSD cross-margin and isolated margin pairs on December 7, 2023, at 06:00 (UTC).

Furthermore, the crypto exchange is setting its sights on closing users’ positions, conducting an automatic settlement, and canceling all pending orders on the aforementioned cross and isolated margin pairs. Subsequently, these trading pairs will be removed from the platform following the completion of payment settlements.

Meanwhile, Binance notified its users that trading for the abovementioned assets can be done on other available trading pairs listed on Binance Margin.

Binance advises its users to close their positions or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading, as updating users’ positions during the delisting process would not be possible.