• These changes are largely concerned with the management of digital assets that are no longer offered on the exchange.
• The development could have long-term implications, as Binance now has exclusive power over which digital assets are listed on its platform.
Binance Charged by SEC
The U.S Securities and Exchange Commission (SEC) recently charged cryptocurrency exchange Binance for possible violations against securities laws.
Consequences & Speculations from Crypto-Twitter
The consequences of this change remain unknown, but Crypto-Twitter is speculating that Binance could convert these delisted tokens into their native token called BNB. It was also pointed out that storing cryptocurrencies in centralized exchanges like Binance carries an inherent risk since they have full control over user’s assets and should preferably be kept in secure wallets or decentralized exchanges instead.
Long Term Implications
These changes could have long-term implications as it gives more power to centralized exchanges like Binance when it comes to managing user’s digital assets and raises concerns about lack of transparency regarding what type of digital asset they could convert them into at any given time.