Binance will end its futures, options, and leveraged tokens products to Australian crypto traders in December, the exchange said on Tuesday.
Effective from September 24, Binance’s existing Australian users will have 90 days to reduce and close their positions for derivatives products.
“Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions,” reads the announcement.
The exchange added that after December 23, customers in Australia will no longer be able to manually reduce or close their positions as all remaining open positions will be closed automatically.
Binance is currently the world’s largest crypto exchange with almost $36 billion in trading volumes in the last 24 hours, according to data from CoinGecko.
Binance under regulatory scrutiny
The suspension of derivatives trading activities in Australia comes amid increased regulatory pressure on Binance, with financial watchdogs across
Źródło: https://decrypt.co/81386/binance-halts-derivatives-products-australia
