- The United States Securities and Exchange Commission (SEC) has recently increased its scrutiny on cryptocurrency exchanges, including giants Coinbase and Binance.US.
- Amidst this uncertain environment, both Coinbase and Binance.US have announced their support for VeChain (VET), marking a major milestone for this emerging digital asset.
In the context of an increased regulatory environment marked by SEC lawsuits against leading cryptocurrency marketplaces like Coinbase and Binance.US, it seems both exchanges are under stringent examination for their traded assets. Amid this intensified surveillance, positive announcements about VeChain (VET) by both exchanges come as an encouraging signal.
Binance.US, the United States division of the global cryptocurrency exchange Binance, has announced a significant change to its trading pairs. The platform presently supports over 150 cryptocurrencies, which traditionally had trading pairs against BTC, USDT, and USD. A recent announcement revealed that Binance.US would cease USD trading pairs support for many currencies.
This change was effective from June 23rd, resulting in only 10 out of the 150+ cryptocurrencies on Binance.US retaining their ability to be traded directly against USD. It’s noteworthy that VeChain’s native token VET is among the selected cryptocurrencies. This adjustment allows investors to purchase VET directly with USD, circumventing the necessity to convert USD to another cryptocurrency first.
Meanwhile, Coinbase, one of the largest cryptocurrency exchanges globally, also conveyed a nod of approval towards VeChain. The VeChain team’s aspiration has been to get listed on all significant exchanges, with Coinbase being one of them.
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On June 22nd, Coinbase announced via Twitter that it intends to list VET along with VeChain Thor (VTHO), the secondary token in the VeChain platform, for trading on its platform. In a bid for increased transparency, Coinbase has committed to publicizing when an asset has been greenlit for listing. This signifies Coinbase’s official confirmation for future trading of the asset.
Although an exact listing date has yet to be established, if past Coinbase announcements serve as an indicator, the listing of VET and VTHO on the platform should materialize in the coming weeks or months. This shows strong approval for VeChain by major players, even as the SEC’s watchful eyes hover over the crypto industry.
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