Binance has raised eyebrows with its latest announcement regarding the delisting of two Cardano (ADA) trading crypto pair. ADAUP/USDT and ADADOWN/USDT, both leveraged token pairs, will face cessation from trading and subscription by August 16.
Understanding Trading Crypto Pairs
Trading pairs are the lifeblood of the cryptocurrency market. They represent the relationship and exchange rate between two cryptocurrencies. For instance, if you wanted to trade Bitcoin (BTC) for Ethereum (ETH), you would look at the BTC/ETH trading pair. The price shown would indicate how much ETH one could get in exchange for one BTC. In the world of cryptocurrency, this concept helps facilitate the trading between different types of coins and tokens.
Why Regulators Stepped In?
Regulators, particularly from traditional financial sectors, have been keeping a close eye on the rapidly evolving cryptocurrency landscape. Their main concerns usually revolve around the potential for illicit activities, such as money laundering and fraud, and the need to protect investors from high-risk or misleading investment schemes. As crypto exchanges and their myriad trading pairs have proliferated, the complexity of overseeing these platforms has increased, prompting regulators to intervene to ensure investor safety and financial system stability.
Binance and its Dance with Global Regulations
Binance, the world’s leading cryptocurrency exchange, often finds itself in the crosshairs of regulators due to its global presence. Operating in multiple countries means adhering to a myriad of regulatory environments, each with its own set of challenges and requirements.
But here’s a query: Is Binance subject to US regulations? In many ways, the answer is “yes.” While Binance does have a separate platform specifically for U.S. traders known as “Binance.US,” it’s essential to remember that global financial markets are interconnected. Actions taken by the US Securities and Exchange Commission (SEC) or other US regulatory bodies can have ripple effects across the world, impacting operations even in regions where US jurisdiction doesn’t directly apply.
Cardano (ADA) Crypto Pair Delisting
Binance’s recent announcement about the cessation of ADAUP/USDT and ADADOWN/USDT trading pairs may have left many puzzled, especially given the lack of a clear reason. While Binance remains tight-lipped, the cryptocurrency community speculates that the move is possibly linked to looming regulatory concerns.
The SEC’s ongoing litigation against Cardano might have added a layer of risk that Binance isn’t willing to take, especially in light of their earlier decision to delist certain XRP trading pairs. It underscores the influence that regulatory bodies, like the SEC, can have on the broader crypto landscape, shaping decisions of major players like Binance.
- PEPE Coin Price to Reach $5 in the Next Seven Days?
- Fintech News
- CoinDash hacked: Fraudsters stole $7 million by hacking a cryptocoin offering
- Crypto Assets Bounce Back Above $70 Billion Amid Day of Gains
- City of Zug adopts uPort for access to government services
- What’s holding back blockchain in financial services
- Cryptocurrencies: A real possibility for social transformation
- Coinbase Raises $100m in Largest-Ever VC Funding Round for Bitcoin Startup
- Tech Open Air Conference is thinking about an ICO: The hype is real
- Tether – The crypto central bank got robbed
- Crypto 101: What is Bitcoin and how can you get paid with it?
- What are cryptocurrencies? What is a blockchain? What is a Bitcoin? The basic terms
- IOTA partners up with LATTICE80
- Video: Holo announces the HoloPort that reinvents the internet
- Curiosity Talk: Blockchain Expert Moritz Bierling
You might also like
More from Altcoin
Allocating a small portion of an investment portfolio to cheap cryptocurrency prices? Here are 3 cryptocurrency prices under $1 to …