Binance’s cryptocurrency exchange has announced that it will eliminate AION (AION) as well as the mirror protocol (MIR) along with the anchor protocol (ANC). The announcement comes as the discussions about regulatory compliance are gaining momentum.
Binance has taken away AION MIR, AION along with ANC tokens, from its exchange
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Binance, on,e of the most well-known cryptocurrency exchanges worldwide, is now under greater scrutiny by authorities. This is why Binance ensures it complies with local laws and regulations.
The decision to delist AION (AION), as well as the mirror protocol (MIR) and the anchor protocol (ANC), is a comprehensive look at the tokens on markets. Binance announced that the delisting process would begin in February. 27th, on February 27 at 5:30 p.m. The company has also warned users to close their accounts by March 28.
Binance will take away the MIR ANC as well as AION tokens. These trading pairs will be removed AION/USDT, BUSD/ANC. Removing these investments from Binance is allowed until May 28, 2023.
— Mark Harris (@Rakatax69) February 20, 2023
Many have taken that decision made by Binance as a signal that the company takes its compliance with regulations severe. The cryptocurrency sector has prepared itself for increased regulations in the past few months. Many businesses, such as exchanges, ensure that they adhere to regional laws and rules.
The removal of Binance’s tokens serves as an alert to the market
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The effects of increased crypto market regulation must be made clear. The decision taken by Binance to remove an account demonstrates that compliance with rules will become more vital. This action is a sign that exchanges are becoming more strict after the bloody discussions about crypto oversight last month.
It’s yet to be established what impact increasing regulation will have on the entire crypto industry. But, the demise of AION (AION) along with Mirror Protocol (MIR), the anchor protocol (ANC) by Binance, is likely to be seen as a signal to other crypto firms that compliance with local laws and regulations is becoming more critical.
