Binance Delists Perpetual Futures Contracts and Secures Licenses in El Salvador
Binance, the leading cryptocurrency exchange, has announced that it will be delisting two perpetual futures contracts, specifically USDⓈ-M ADABUSD and MATICBUSD Perpetual Contracts, by August 17. The exchange will also be implementing alterations to the leverage and margin tiers for these contracts starting on August 10. Traders are advised to review their positions and make necessary adjustments to avoid liquidation. The reason for the delistings was not specified, but it may be related to the reliance on Binance USD (BUSD), which is no longer able to mint new coins. Meanwhile, Binance has secured dual licenses in El Salvador, making it the first fully licensed crypto exchange in the country.
Key Points:
- Binance will delist USDⓈ-M ADABUSD and MATICBUSD Perpetual Contracts by August 17.
- Alterations to leverage and margin tiers for these contracts will be implemented starting on August 10.
- Traders are urged to review their positions and make necessary adjustments to avoid liquidation.
- The delistings may be related to the reliance on Binance USD (BUSD), which can no longer mint new coins.
- Binance has secured licenses in El Salvador, becoming the first fully licensed crypto exchange in the country.
Hot Take:
Binance’s decision to delist the perpetual futures contracts and secure licenses in El Salvador showcases the exchange’s commitment to adapt to regulatory changes and expand its services globally. While the specific reasons for the delistings were not provided, it highlights the importance of staying compliant in the evolving crypto landscape. Binance’s achievement of being the first fully licensed exchange in El Salvador positions it as a key player in the country’s growing crypto ecosystem, potentially opening up new opportunities for both the exchange and the Salvadoran population.
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