We all have heard about the world’s largest cryptocurrency trading exchange, Binance. Traders all over the world keep an eye on what’s happening over there. Recently, the organization, more specifically, it’s Uganda division has taken down its trading token BNB (Binance Coin) as declared on 9th September. It cannot be traded against Uganda Shilling (UGX).
This will be effective from September 17th. However, BNB deposits will be declared null and void from September 10th.
Binance will allow BNB withdrawals until 6th November, an official stated.
The reasons for this move are unknown. However, an expert stated that BNB/UGX pairing did not meet trading standards concerning trading volume and liquidity.
The expert further explained that this is a routine process, as the trading volume of a pair is reviewed. If it doesn’t match the standards, it will be delisted.
Binance did not provide any details though. The community is eager to hear from the officials, we are too.