Binance crypto exchange has announced that it will be delisting aion (AION), mirror protocol (MIR), and anchor protocol (ANC). The move comes as cryptocurrency exchanges’ regulation compliance talks heighten.
Binance delists AION, MIR, and ANC tokens from its platform
Binance, one of the largest cryptocurrency exchanges globally, faces increased scrutiny from regulatory authorities. As a result, the company has been ensuring compliance with local laws and regulations.
The decision to delist aion (AION), mirror protocol (MIR) and anchor protocol (ANC) comes after thoroughly reviewing the tokens listed on the exchange. Binance said the delisting would take effect on Feb. 27 at 5 pm. However, users have been advised to withdraw their tokens before March 28.
Some have viewed the move by Binance as an indication that the company is taking regulatory compliance seriously. The crypto industry has been bracing itself for increased regulatory measures, and many exchanges and other crypto businesses are taking steps to ensure compliance with local laws and regulations.
Binance token delisting sends warning to industry
The impact of increased regulation on the crypto industry needs to be clarified. But, Binance’s action to delist some tokens indicates regulatory compliance is becoming more critical. The action shows that the exchanges are becoming more strict after harsh crypto oversight discussions earlier in the month.
It remains to be seen what impact increased regulation will have on the crypto industry as a whole. However, the delisting of aion (AION), mirror protocol (MIR), and anchor protocol (ANC) by Binance is likely to be seen as a warning to other crypto businesses that compliance with local laws and regulations is becoming increasingly important.