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Binance Announces Delisting of 4 Digital Currencies. 👀🤐
In a recent move, Binance, the world's leading cryptocurrency exchange, has unveiled plans to delist four digital currencies – Monero ($XMR ), Multichain ($MULTI ), Vai ($VAI ), and Aragon ($ANT ).
This decision, a part of Binance's routine review process, is grounded in a comprehensive assessment encompassing project teams, development activity, trading volume, network stability, public communication, and overall contributions to the crypto ecosystem.
Comprehensive Assessment:Binance's decision-making process involved evaluating several factors, including development activity, trading volume, network stability, public communication, and the overall contribution to a healthy crypto ecosystem.
Regulatory Scrutiny:Monero, recognized for its privacy features, has faced regulatory scrutiny due to concerns about potential illicit use.
Authorities express worries about its anonymity feature facilitating money laundering and illegal transactions.Failure to Meet Standards.
Delisting Schedule:Effective Date: February 20, 2024, at 03:00 a.m. UTC.
Binance services like Margin, Futures, Simple Earn, Auto-Invest, Loans, Convert, Gift Card, Pay, and Trading Bots will be removed.
Binance plans to convert remaining balances in delisted tokens to stablecoins, but this isn't guaranteed. Users must close positions and withdraw assets in affected trading pairs to avoid potential losses.
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