On April 16, Binance will remove 14 tokens from its platform, following the outcome of its initial “Vote to Delist” initiative.
The tokens slated for removal are BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT, and VIDT. In a communication issued on April 8, the exchange clarified that the decision was based on internal assessments as well as the results of a community vote.
More than 103,000 votes were submitted by over 24,000 participants, with approximately 93,000 votes verified after excluding ineligible ones. To participate in the voting process, users needed to hold a minimum of 0.01 Binance Coin (BNB).
Binance cited reasons for the delisting, such as low trading volumes, insufficient project development, minimal community engagement, and non-adherence to internal or regulatory standards. The exchange also indicated that tokens left untouched in this round may still face removal in the future if they fail to meet the necessary criteria.
All trading pairs related to the 14 affected tokens will be eliminated at 03:00 UTC on April 16, and deposits for these tokens will be halted. However, users can continue to withdraw these tokens until June 9, after which any leftover balances may be converted to stablecoins.
This move follows Binance’s earlier decision on March 31 to delist Tether (USDT) trading pairs in the European Economic Area, in compliance with the newly established Markets in Crypto-Assets regulations. MiCA aims to enhance the oversight and accountability of digital assets within the EU by mandating exchanges to remove tokens that do not conform to specific compliance criteria.
Exchanges are required to demonstrate compliance with enhanced security, transparency, and anti-money laundering regulations. The growing regulatory pressure has compelled exchanges to be more discerning about which tokens they support in the region.