The Binance exchange is making another change to avoid further problems from regulators. This time it is about removing trading pairs for EUR, GBP and AUD.
The information about the discontinuation of trading pairs for popular fiat currencies (Euro, Pound and Australian Dollar) was posted on Twitter.
Trade risk mitigation
The CEO of the exchange announced today on his private profile that Binance is lowering the maximum leverage cap on BTC Futures to 20x. A few hours later, the exchange’s official Twitter account(@binance) posted that Binance will remove margin trading pairs for the three fiat currencies:
“Binance Margin to Delist $AUD, $EUR & $GBP Pairs”.
According to the news, the said currency pairs will be suspended on August 10. At that time, all orders related to them will be automatically cancelled. The complete removal will take place on August 12.
As you can see, Binance does not stop in its efforts to reduce the trading risk and avoid further problems from the regulators. We wrote about the case, among others, in the articles Binance under the magnifying glass of European regulators and Problems with Binance in the UK.
It is time for changes for the Binance exchange
The CEO of Binance has recently announced that he will double the number of employees responsible for making sure that the exchange operates in accordance with regulations. He also admitted that due to the rapid growth, the Binance exchange has not always operated in the right way(Binance wants to meet the requirements of regulators).
There have also been rumors about whether or not, like another popular cryptocurrency exchange Coinbase, Binance will IPO. For now, this has not been officially confirmed, but at the same time CZ (CEO of Binance) has not ruled out such a possibility in the future. However, it should be noted that the predictions related to the IPO concern only the American version of the exchange for now. You can find detailed information in the article: Will Binance US decide to IPO?
Will Binance’s actions bring results?
What do you think about the actions taken by Binance? Will they help to warm up theiserance of the company and make regulators stop warning about the most popular cryptocurrency exchange in the world every now and then?