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Binance To Delist 3 Tokens Amid Regulatory Concerns
In a recent announcement from the world’s largest cryptocurrency exchange by trading volume, Binance has revealed that it will be delisting three tokens from its platform. The affected tokens are Kaon (AKRO), Bluzelle (BLZ) and WazirX (WRX). This decision comes as a result of Binance’s routine asset review to ensure listed tokens meet industry standards and comply with regulatory requirements.
According to the announcement, the delisting process begins on December 18, 2024, when trading pairs including AKRO/USDT, BLZ/BTC, BLZ/USDT, WRX/USDT will no longer be available for trading. Additionally, users have been advised to unhide small balances in their wallets so that these assets can be tracked.
Withdrawal of these tokens will not be supported after February 25, 2025. Furthermore, Binance Convert will maintain a sell-only feature until December 25, 2024, while other services like Gift Card and Trading Bots will discontinue by the same date.
In a bid to ensure a smooth transition for users, Binance has emphasized the importance of managing portfolios promptly, closing positions, and transferring assets to avoid potential losses. The exchange platform has also suggested that users transfer their assets from Margin to Spot Wallets before the deadlines to avoid liquidation risks.
It’s worth noting that deposits of these tokens will not be credited after December 26, and withdrawals will cease by February 25, 2025.
Source: www.cryptonewsz.com
