Binance.US Delists Over 40 Trading Pairs Amid SEC Charges

Joshua Ramos
Binance.US Agrees to Acquire Voyager Digital Assets
Source: CNBC

Following legal action taken by the US Securities and Exchange Commission (SEC), Binance.US has delisted more than 40 trading pairs. Additionally, the exchange has paused its OTC trading portal amidst the complaint issued against the Binance exchange and its CEO, Changpeng Zhao.

The complaint filed yesterday included more than 13 charges against the exchange. Moreover, it alleged mishandling of customer funds, and lies told to both investors and regulators. Conversely, the action taken by Binance.US is seemingly their attempt to come into compliance.

Binance Experiences Abnormal Price Movements, CZ Says its Just Market Behavior
Source: The Economic Times

Binance.US Acts Following SEC Complaint

The digital asset industry was shaken over the last two days as two of the largest cryptocurrency exchanges were targeted by the US regulator. Subsequently, alleged US securities law violations saw enforcement action taken. Now, one affected entity is seemingly trying to take action.

Specifically, Binance.US has delisted more than 40 trading pairs following the SEC charges. Additionally, it has halted its OTC trading portal following the complaint that was issued yesterday. Alternatively, the exchange has noted that the platform’s deposit and withdrawal functions continue to operate as normal.

Source: Coinpedia

There are a host of cryptocurrencies that are affected by this development. Specifically, those include assets like AAVE, ANT, BAL, COMP, and more. Additionally, some Bitcoin (BTC) trading pairs have been affected. Those include VET, LRC, MANA, and more.

The company has also altered its Buy, Sell, and Convert service to reduce the number of trading pairs that it supports. Indeed, the altered offering will now support 20 assets, with cryptos like USDT, USDT, USD, and BNB remaining.

The company has stated that it will notify users when its OTC trading portal is once again up and running. Conversely, court filings from the complaint have also revealed the financial situation of the exchange. Specifically, it revealed that it had lost $181 million in 2022.