Many Australian dollars (crypto-to-AUD) spot trading pairings will be delisted on June 1, according to Binance, the largest centralized cryptocurrency trading venue, and exchange in the world by trading volume.
Binance Decided to Withdraw from Australia Due to Harsh Policies
Binance has announced that it would discontinue service for many BTC, AUD, and altcoin pairings on its spot trading platform.
Which Trading Pairs will be Delisted?
According to an official announcement made by the team on May 26, the following trading pairs will be delisted:
All of the pairs listed above will be delisted on June 1, 2023, at 06:00 (UTC).
Binance Australia Faces Difficulties
The Australian division of cryptocurrency exchange Binance recently experienced a setback when the regional platform lost access to various Australian dollar deposit services and issued a withdrawal warning.
It was not stated by Binance Australia why it was forbidden or when the temporary suspension of the service would end. The exchange stated that it was searching for an option instead. It also advised clients of Binance Australia to switch to its peer-to-peer marketplace.
Westpac Banking Corp., the second-largest retail bank in the nation, reportedly forbade its customers from trading with Binance, according to the Australian Financial Review. It had previously claimed that certain cryptocurrency payments had been banned in order to stop losses brought on by fraud. However, no exchanges were mentioned, and no other details were provided.