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Binance Is Delisting A Batch Of 30 Trading Pairs From Its Listings

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The cryptonews from September 30 put Binance in the focus. According to the latest updates, Binance is delisting a batch of thirty altcoins and trading pairs from its listings. Only six of those trading pairs involve tokens launched on the Binance Launchpad Initial Exchange Offering (IEO) platform, including BitTorrent (BTT), Elrond (ERD), Harmony (ONE) and WINk (WIN).

In a blog post titled “Notice of Removal of Trading Pairs,” the exchange announced the delisting of tokens which would happen at 2019/09/30 8:00 AM (UTC).

Even though not all of the trading pairs that are listed include Binance Launchpad tokens, Binance is delisting a significant 20% of them. The full list shows this in detail – and the delisted pairs are:

“ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.”

Binance also added a “risk warning” which shows the following:

“Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high quality coins, but will not be responsible for your trading losses.”

The leading cryptocurrency exchange claimed that the pairs were being removed in order to “improve liquidity and user trading experience.” Now that Binance is delisting all of these trading pairs, the exchange also added that this was “as requested by most project teams.”

The latest cryptocurrency news also show that on September 27, Binance claimed to have assisted British prosecutors in an investigation of an online fraud which resulted in over $51 million in losses by victims.

However, all of this doesn’t change much in the crypto market cap today. Even though the Bitcoin news show that BTC managed to go below $8,000 again and lose more than 3% today, the altcoin updates post declines which are not as strong. The only real losers  in the top 20 today are Binance Coin (BNB) which slid by 4% to a price of $15, Monero (XMR) which retraced to $54 with a 4% decline and Huobi Token (HT) which is at $3 now after losing 2.57% overnight.

The total cryptocurrency market cap is now at $210 billion – a level which is even lower than the weekend’s numbers.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Binance News

Binance Joins Shyft Blockchain Network For FATF Compliance

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The top cryptocurrency exchange Binance joins Shyft Network, a public blockchain protocol which can help it comply with the Financial Action Task Force (FATF) regulations. The cryptonews show that Shyft Network was designed to provide a decentralized solution for the crypto industry players in order to fulfil global compliance standards, including the FATF's "travel rule." A statement shared with the media on February 27 shows that Binance's chief compliance officer Samuel Lin said that until the creation of the Shyft Network, there was no existing infrastructure by which firms could comply with the new FATF rules. Part of FATF's updated guidance for Virtual Asset Service Providers (VASPs) was issued last summer and is set to come into force this June. The controversial travel rule requires VASPs to collect as well as share Know Your Customer (KYC) information during the transactions. The advisor and former FATF executive secretary commented on the announcement that Binance joins Shyft Network and said that the partnership “should help to move this [...] industry to the next level when it comes to effectively interfacing with regulators,” also adding that:
"Other exchanges would be well advised to participate in federations that practically address global compliance requirements, particularly the FATF's Travel Rule."
For many, Shyft seeks to encourage crypto businesses to implement an industry-wide solution to the FATF requirements by using the identity passporting, database bridging and data attestation infrastructure. In the Binance news, we can see that the exchange is looking forward to using the open-source technology by Shyft which is designed to comply with both FATF guidelines and the European Union's GDRP data privacy regulation crypto law. With this, it seeks to maintain full use of decentralized networks and establish secure data sharing principles applicable across various jurisdictions.
“We didn’t want FATF to sit down and tell technical details of exactly how companies should comply with it because that would quickly become out of date,” the Secretary at FATF Tom Neylan told the media in an interview, adding that "work to be done by the private sector to develop a technical system that is capable of implementing this rule.”
All in all, Binance joins Shyft in a partnership that is significant for its KYC processes and prevention of incidents such as the one of last summer, when the exchange was a victim of hacking extortion heist.  
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Binance Coin News

Crypto Exchange Group Binance Chooses Shyft Network In ‘Travel Rule’

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The crypto exchange group Binance, chose the Shyft Network in order to help address the looming regulatory requirements that the companies have to share the personal data of the users when handling digital asset transactions. Will this decision have any impact on the binance coin? Shyft Network is one of the many potential solutions to the Financial Action Task Force ‘Travel Rule.’ The name came right from the stipulation that the identifiable information has to ‘’travel’’ with the transaction, considering crypto transactions are pseudonymous by design. Samuel Lim, the head of compliance at binance said:
 “Shyft stands out because they are extremely acute, and very well connected with global regulators. These things we consider to be very important. Of course, the underlying technology stack is core, too.”
Getting the public endorsement of the crypto exchange Group Binance is a huge deal for Shyft network since it has a SWIFT-like infrastructure incorporating ethereum technology. The company hired former FATF executive secretary Rick McDonell and the Shyft Network co-founder Joseph Weinberg commented:
 “We have been working with a lot of the big exchanges for the last nine months. Binance is the first to publicly come out, but more will definitely be on the way.”
The FATF is a global anti-money laundering agency that creates rules for the G-20 group of countries that will review the progress on addressing the travel rule for the virtual asset service providers in June later this year. Still, in its early days, the industry is getting concerned as Binance said it has been talking with ‘’a good four or five’’ candidate solutions. Lim said:
 “Shyft is not the only solution we are endorsing but it’s the first that we are putting our brand behind. Things could change in the future but as of now, the focus is on Shyft.
There are a lot of changing parts when it comes to meeting the travel rule requirements including creating an identity system across the universe of VASPs, the sharing and storing of personally identifiable information without having to compromise privacy and agree on standardized messaging or data transmission systems. As per the Binance coin, it had a rough week previously hitting the $22 price point, showing that there could be a bigger crises on the market.
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Binance News

Binance UK News Show Buying BTC Is Now Easier Than Before

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The world's leading cryptocurrency exchange (as they describe themselves) and the largest one by trading volume, Binance, is in the cryptocurrency news again. Today, we are focusing on the Binance UK news and showing all the ways that you can play around with buying BTC/GBP offerings on the platform. As you probably know, there have been several ways to buy Bitcoin in the UK. One of the best ways is via Binance Jersey, the fiat-to-cryptocurrency platform for buying crypto in the UK and the rest of Europe, as well as other fiat currencies in the area such as the British pound and the Euro. As a major economy, the UK is ahead of the curve when it comes to crypto-related activities. The Binance UK news show that the interest for buying cryptocurrency is big and buying Bitcoin (BTC) has become a common action in the country. In fact, Binance reported that a study found that more than 90% of the people in the country are aware of Bitcoin and 9% of them actually own cryptocurrencies. This is a good signal considering the fact that the awareness of BTC and the Bitcoin news is lower in other parts of the world. Brits, however, know what crypto is and understand how Bitcoin works. This indicates that the potential for buying the dominant coin in the UK has become mainstream. Aside from this, Binance is offering at least two ways to buy BTC in the UK: through Binance Jersey and via credit card on Binance. If you are interested to see the Binance UK news showing how to buy BTC in the UK through Binance Jersey, the steps are as following:
  1. Create an account on Binance Jersey and complete the verification process
  2. Log in to your account, go to Funds>Deposits>GBP
  3. Enter your desired deposit amount in GBP and click on 'Submit'
  4. Go to your bank to complete the deposit
  5. Once you complete it, check your Binance Jersey account to see the status of your deposit
  6. Use the deposited GBP to buy crypto such as Bitcoin
If you want to purchase BTC with credit card, you need to:
  1. Log in to your Binance account (or create one if you don't have it)
  2. Visit this link 
  3. Enter how much BTC or other cryptocurrencies you want to buy
  4. Read through the order and accept it, and then click on Go To Payment
  5. You will be reloaded to Simplex, where you can verify your details and enter the details of your credit card
  6. Once you provide the needed info, the transaction will be finished!
We hope this article helped you see how to buy BTC through Binance in the UK.
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Binance News

Malta’s Financial Watchdog Says Binance Is Not Licensed

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Malta’s financial watchdog explained that Binance is not licensed or regulated to operate in Malta as we are reading further in the Binance news today. Malta’s financial watchdog or the Malta Financial Services authority recently released a new statement announcement that the world’s largest crypto exchange by trading volume is not authorized to operate in the island nation. The company is not a subject to regulatory oversight by the MFSA according to the announcement. Malta’s financial watchdog revealed that there is an ongoing investigation to assess whether the exchange has activities in the nation or they simply fall within the realm of regulatory oversight:
 “Admission of virtual financial assets to trading and/or for offering virtual financial assets to the public in and from Malta requires an MFSA licence in terms of the Virtual Financial Assets Act (CAP 590) of 2018.’’
Due to spur that the MFSA’s statement caused in the crypto community, Changpeng Zhao who is the CEO of Binance, took it to twitter to explain the allegations saying that this is ‘’old news’’ :
 “There is a mix of truth, FUD & misconception. Binance.com is not headquartered or operated in Malta. This is old news & has always been the case, hence there is quite a bit of FUD turning this into a breaking story. The community’s comments show that understanding.’’
Zhao added that the company operates in a decentralized manner and reached more than 180 nations worldwide. Binance does have a huge number of regulated entities across the world and it has a goal to become a fully decentralized autonomous organization. Users still don’t know where Binance is actually located since it announced it is moving to Malta back in 2018 after they were forced to move out from Japan because of the harsh regulatory climate. During the same time, Joseph Muscat who is the prime minister of Malta, appeared to have welcomed the exchange to the island:
 “Welcome to Malta Binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.’’
Binance’s chief growth officer admitted in an interview about the offices in Malta:
 “We have offices in Malta for customer services, and some compliance people there, but it’s not the headquarters per say. It’s the spiritual headquarters. It’s a name that people think about when they think about Binance.’’
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