Binance cryptocurrency exchange is making changes to transactions made with BUSD. The exchange announced that the popular margin trading pairs BTC/BUSD and ETH/BUSD will be removed from margin trading. Important dates that users need to pay attention to during this process have been announced.
Binance has set specific dates for a smooth transition. Borrowing in BTC/BUSD and ETH/BUSD pairs will be temporarily suspended starting from November 28, 2023. Users need to follow these dates.
On December 7, 2023, open positions for BTC/BUSD and ETH/BUSD pairs will be closed, automatic settlements will be made, and all pending orders will be canceled. With these transactions, these pairs will be removed from margin trading.
Although these pairs are removed from margin trading, Binance stated that users can continue trading BTC and ETH with other trading pairs on Binance Margin. Users were reminded that they cannot modify their positions during the delisting process and they need to close their existing positions or transfer their assets from Margin Wallets to Spot Wallets before the suspension of margin trading.
Binance emphasized that users are responsible for managing their positions and any potential losses. The exchange aims to help users manage the delisting process effectively through transparent communication and ensure a smooth transition for all participants.