Binance US Removes Over 100 Crypto Trading Pairs Following SEC Lawsuit

Key facts:
  • The 101 removed trading pairs correspond to the USDT, BTC and BUSD markets.

  • Binance US only removed 4 pairs related to the cryptocurrencies named in the lawsuit.

Binance US, the United States subsidiary of the cryptocurrency giant, announced Wednesday afternoon that it would remove more than 100 cryptocurrency trading pairs from the tether (USDT), bitcoin (BTC), and BUSD markets, along with suspending over-the-counter (OTC) market.

Among the 100+ trading pairs removed, the majority were in the USDT markets and included some of the cryptocurrencies who were the subject of lawsuit against Binance, considered as securities. In the lawsuit, the Securities and Exchange Commission (SEC) accused the exchange of allegedly operate with this type of assets without the proper license.

Of the 12 cryptocurrencies named in the lawsuit, only ATOM, MANA, AXS and COTI were removed of the trading markets on Binance US, according to the advertisement official.

The removal of trading pairs is a common practice among exchanges, either due to low liquidity or other reasons. Also, the pairs were only removed from the US platform, not the global version.

Regarding the OTC market, the announcement informs that it will remain closed indefinitely and that users will receive a notification when operations are reactivated.


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