Binance Will Delist The Following Currencies: Today, Binance said it will remove some cryptocurrencies by the end of this month. They didn’t explain exactly why, but they gave some hints. In the announcement, they mentioned delisting four cryptocurrencies on February 20th. These are: [list of cryptocurrencies].
Sure, here are simpler terms for those cryptocurrency names:
- Aragon: ANT
- Multichain: (MULTI)
- Vai: VAI
- Monero: XMR
The prices dropped a lot after the announcement. For instance, Monero is down by a significant 17% because its value fell sharply when the exchange revealed the information.
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XMR is one of the oldest and most well-known alternative cryptocurrencies. Some people might be surprised that it’s being removed from certain platforms. However, it’s important to know that its main purpose is to provide privacy, and many big platforms are moving away from that because governments worldwide are creating strict rules for identifying and preventing money laundering in cryptocurrency trading.
Binance recently had a big legal issue with the U.S. Securities and Exchange Commission. They agreed to pay over $4 billion as a settlement and are now changing their rules and way of doing things. The new CEO mentioned that they want Binance to follow the rules of regular finance companies.
However, they didn’t clearly explain why Monero and other coins were removed from the list. The announcement mentions some possible reasons considered by the exchange but doesn’t specify anything.
On a different note, we just released a new video. If you’re curious about the secret to getting SEC approval for an Ethereum ETF, check it out: [link].
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
