NFT EveningNFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • NFT News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
      • Columns
    • NFT Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT EveningNFT Evening
    NFT News

    Home » NFT News » Binance Issues New Rules; to Delist NFTs With Low Trading Volume

    Binance Issues New Rules; to Delist NFTs With Low Trading Volume

    By VineetJanuary 21, 2023Updated:March 3, 20232 Mins Read

    Leading web3 marketplace exchange Binance constricts rules surrounding NFTs. Binance plans to delist NFTs with low trading volumes, and those listed prior to the platform’s KYC rules in February. The new rules are introduced in accordance with new regulatory rules. Read on to learn more about this new rule by the crypto exchange giant.

    A logo of Binance NFT

    Will Binance Delist NFTs?

    On January 19th, Binance announced that it has tightened its rules for NFT/digital asset listings on the platform. From February 2nd of this year, the platform delists all NFTs listed before Oct. 2, 2022, and with an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023. Moreover, after January 21st, 2023, NFT creators and digital artists can only mint five digital collectibles a day.

    The Binance platform relies on KYC (Know Your Customer) verifications for its collections. Sellers must complete KYC and also have at least two followers before listing on their platform. The platform also states that it will review NFT listings that do not “meet its standards” periodically. If collections do not satisfy its guidelines, they are delisted from the platform. “Users can report NFTs or collections that may be in violation of Binance NFT minting rules and terms of service. Our due diligence team will actively review reports of fraud or rule violations and take the appropriate actions,” states Binance.

    The Binance NFT delist is to complete by February 2nd, 2023. However, the delisted assets will still appear in users’ wallets. This move is a result of Binance being under intense regulatory scrutiny since faltering KYC allegations against the platform. Moreover, there are allegations of processing illegal funds, that the platform has denied. NFTEvening delivers more on the story as it develops.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    BinanceNFT Platform
    Previous ArticleTT, Guardian Of Web3, Just Landed On Earth To Create NFTTCity
    Next Article NFT Sales Hit 101 Million In 2022: DappRadar Report
    Vineet
    • Website
    • Twitter

    Vineet is a storyteller based in Mumbai. Having previously worked for various web2 organizations as a journalist, instructional designer, and event manager, he got into blockchain in early 2021. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space.

    More great NFT Evening content:

    Stand with Crypto: The Campaign Fighting The Powers That Be In Web3

    June 8, 2023
    image of gamestop CEO who was fired

    GameStop Terminates CEO Matt Furlong Amidst NFT Expansion: What’s Next for the Retailer?

    June 8, 2023
    An illustration for the blockchain game "Life Beyond".

    Life Beyond: Journey into a Spatial Metaverse with Seasoned Video Game Veterans

    June 8, 2023
    Blend: An 82% Share of the NFT Lending Market

    The Problem with NFT Lending

    June 8, 2023

    NFC Lisbon 2023 to Announce NFT Art Prize Winner on June 7th!

    June 8, 2023
    Paris Hilton Icons Only show for Avatar holders

    Get Ready to Party: tokenproof Empowers 11 Fans to Attend Paris Hilton’s Sold-Out Show!

    June 8, 2023

    Experience Digital Fashion: Weekday and The Fabricant Introduce Artifact 001

    June 7, 2023
    A picture from British artist Robert Alice.

    Robert Alice: NFT Artist Takes on Historic La Monnaie de Paris

    June 7, 2023

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Interviews
    • Metaverse
    • Music
    • NFT Guides
    • NFT Marketplaces and Tools
    • NFT News
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version