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The giant cryptocurrency exchange Binance, citing a periodic review process aimed at maintaining high standards and adapting to evolving market dynamics, today delisted four altcoins, in other words, removed them from its platform. The cryptocurrency exchange emphasized its commitment to providing the best services and protections for its users. This sometimes necessitates the removal of certain altcoins from the platform. The decision to remove certain altcoins from the platform is based on a comprehensive assessment of various factors including the team’s commitment to the project, development activity, trading volume, network stability, compliance with regulations, and contribution to a healthy crypto ecosystem.
Binance Delists Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR)
Binance, the world’s largest cryptocurrency exchange by trading volume, completely removed Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) from its platform as of 06:00 AM local time today. Binance has also halted trading for all trading pairs involving these altcoins, including ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT.
All open orders for these trading pairs were automatically canceled with the cessation of trading activities, and users are required not to have selected the “Hide Small Balances” option in order to view their assets when the delisting process takes effect.
Binance will also stop deposit operations for the delisted ANT, MULTI, VAI, and XMR after 06:00 AM local time on February 21st. Furthermore, withdrawal operations for these altcoins will also be halted from 06:00 AM local time on May 20th.
Protection of Users Is the Goal
This decision is part of the cryptocurrency exchange‘s commitment to maintaining a safe and compliant trading environment, as well as its responsibility to provide transparent and reliable services to its users. Binance emphasizes that these steps are taken with the aim of protecting user interests and ensuring the overall health and sustainability of the cryptocurrency ecosystem.
The removal of these altcoins from Binance underscores the importance of continuous due diligence and regulatory compliance in the cryptocurrency sector. As the regulatory environment continues to evolve, exchanges like Binance must adapt to meet new requirements and standards. While delisting may cause short-term disruptions for the affected projects and their communities, it ultimately serves a long-term goal of maintaining trust in the cryptocurrency market.
