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delist

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first_img Binance applies for a cryptocurrency license in Brazil and will delist 22 assets

Binance has submitted a cryptocurrency service provider license application to the Central Bank of Brazil through its local entity BBrasil, in order to maintain its operations in one of the largest cryptocurrency markets in Latin America before the regulatory deadline of October 30. The application was submitted on October 23, and the company stated that this will allow Brazilian users to continue accessing cryptocurrency assets, stablecoin trading, payment, and investment services.Meanwhile, Binance announced that changes for Brazilian users will take effect on Tuesday, including restrictions on crypto lending, margin trading, and other services, and will delist 22 cryptocurrency assets in the country. Thiago Sarandy, General Manager of Binance Brazil, stated that the company supports the consideration of regulated markets for virtual asset characteristics and hopes that ongoing dialogue with the Central Bank of Brazil will enable it to offer other products that were suspended to comply with current regulations in the near future.According to the regulations of the Central Bank of Brazil, existing cryptocurrency service providers must submit authorization applications by October 30 to continue operating under transitional arrangements. However, submitting an application does not equate to obtaining regulatory approval; Binance still needs to wait for the official review results from the Central Bank of Brazil to determine whether its local business can operate in full compliance.

first_img Aster delisted the PAPER perpetual contract before the market opened, adjusting it to a mode of only reducing positions

The decentralized perpetual contract trading platform Aster announced that, in light of recent developments related to PAPER and potential market risks, it has adjusted the pre-market perpetual contract for PAPER to a liquidation-only mode and plans to officially delist the contract at 9:45 AM Beijing time on October 20. Aster recommends that users holding open positions proactively close their positions before the delisting, calling this a precautionary measure to manage market risks and maintain trading order.Previously, Papertrade stated that there are currently no plans to allow external transfers of the PAPER token and will adjust short-term trading fees and the token issuance curve. The team believes that the PAPER perpetual contract could make the liquidity pool's solvency a target for short selling, and external short exposure may increase the profit potential for manipulation attacks, as these markets are not controlled by the protocol.Papertrade founder Jez also pointed out that due to the rapid progress of the perpetual contract market, PAPER is currently set to a non-transferable status to avoid potential attack risks and maintain the long-term healthy development of the protocol. Jez emphasized that PAPER represents users' rights to the protocol's earnings, and its long-term value depends on whether Papertrade can continue to attract traders. The team made this risk management choice based on the operational data from the first week after the protocol's launch.
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