Unexpectedly, Binance, perhaps one of the biggest cryptocurrency exchanges in the world, said that it has decided to delist two trading pairs involving the cryptocurrencies Litecoin (LTC) and Dogecoin (DOGE). These pairings, notably perpetual futures connected to Binance’s native stablecoin Binance USD (BUSD), will no longer be available on the exchange. The delisting procedure is scheduled to take place on August 24.
The lower maximum leverage for these securities is another aspect of this evolution. Leverage for these pairings will be reduced during the interim period prior to the delisting, with a 10x limit. Investors with open holdings at the time of the announcement are also subject to the modification.
A little housekeeping
This step by Binance is the most recent in a string of similar ones it has recently taken. Recently, the black-and-yellow crypto juggernaut has been quite active in what could be termed a general cleanup, focusing especially on tokens that are closely related to BUSD. In addition, there have been reductions in instruments linked to coins with regulatory problems, such Cardano (ADA).
This cleaning may be attributed to the increased scrutiny regulatory agencies, most notably the SEC and the U.S. Department of Justice (DoJ), are now giving Binance. Binance has seen a controversial time recently as a result of many high-profile investigations that have been conducted throughout the year.
The most recent incident was Binance asking the court for a protection injunction against the SEC. The exchange requests that the SEC forbid it from interrogating witnesses about matters unrelated to the lawsuit. Binance’s plea was then forwarded to a magistrate, according to U.Today.
