Binance, the world's largest cryptocurrency exchange, recently announced the removal of four altcoins from its platform due to their failure to meet the company's standards. The affected altcoins are OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). The removal will take effect on September 17, and users will no longer be able to withdraw these assets from the platform. However, the delisted coins may be converted into stablecoins on behalf of users after September 18.

Binance periodically reviews each listed cryptocurrency to ensure it meets a high level of standard and industry requirements. The company considers several factors, including the team's commitment, level and quality of development activity, trading volume, liquidity, and more. The recent announcement has led to significant price drops for the involved assets, with XEM being the worst affected, plummeting by over 30% on a 24-hour scale.

The delisting of cryptocurrencies from a major trading venue like Binance can significantly impact their price performance. The process may cause a negative perception of the tokens' credibility and future potential, reputational damage, and other setbacks. A similar price decline of an affected token occurred in February this year when the exchange halted trading services with Monero (XMR) and three other altcoins. The popular privacy coin saw its valuation drop by over 20% shortly after the announcement.

Binance has been actively adjusting its offerings to enhance user experience and respond to the latest market trends. The company recently introduced new trading pairs like BTC/MXN and removed some older ones. The introduction of new trading pairs and the removal of others are part of Binance's efforts to maintain a robust and reputable trading environment for its users.

In addition to the recent delisting, Binance has also enforced several amendments on its platform in the past few days. The company added BTC/MXN, XRP/MXN, ENS/USDC, and LDO/USDC on Binance Spot, with two of the pairs touching upon the Mexican peso (MXN), the national currency of the Latin American country. Earlier this year, the exchange launched a direct pair between USDT and MXN. On the other hand, Binance removed some previously listed pairs, such as CAKE/TUSD, DYDX/BNB, and LAZIO/BTC.

The recent developments highlight Binance's commitment to maintaining a secure and reliable trading environment for its users. The company's periodic reviews and adjustments to its offerings are part of its efforts to ensure that all listed cryptocurrencies meet the required standards and industry requirements. As the cryptocurrency market continues to evolve, Binance's proactive approach to regulation and user protection is likely to play a significant role in shaping the industry's future.