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Binance crypto exchange delists its own token on Uganda platform

Binance crypto exchange delists its own token on Uganda platform

The world’s largest alternate, Binance, is delisting its personal token for buying and selling in opposition to the Uganda shilling (UGX).

In line with a Sept. 9 announcement, the Binance Uganda platform determined to delist and stop buying and selling on all buying and selling pairs for Binance’s native token, Binance Coin (BNB).

The BNB/UGX buying and selling pair might be formally faraway from Binance on Sept. 17, whereas BNB deposits might be terminated on Sept. 10, the alternate stated. BNB withdrawals might be nonetheless accessible on Binance Uganda until Nov. 6, Binance famous.

Binance offered little details about the explanations behind the delistings, solely stating that the BNB/UGX buying and selling pair apparently didn’t meet the alternate’s “buying and selling customary.” Apparently, the buying and selling pair didn’t have ample buying and selling quantity and liquidity, in response to Binance’s assertion:

“At Binance.co.ug, we periodically assessment the buying and selling quantity and liquidity of the property we checklist to ensure our excessive degree of ordinary is met. Sadly, when this buying and selling customary isn’t met, their efficiency is topic to assessment and should consequence within the delisting of the coin or token.”

Binance has not responded to Cointelegraph’s request for feedback at publishing time.

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