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Binance shuts down futures and options trading for Australian users

Binance shuts down futures and options trading for Australian users

Binance will no longer allow its Australian users to access its futures and options trading products.

According to a Tuesday announcement, Aussie customers will have 90 days to exit their position beginning from September 24th. Furthermore, the leading exchange is also set to remove support for leveraged tokens, a derivative product that allows users to gain leveraged exposure to digital currencies without any risk of liquidation.

Binance has been doing all it can to enter the good books of regulators. In late June, the exchange lowered the maximum leverage position on Binance Futures from 101x to 20x amid clashes with regulators across the globe. A month later, it discontinued its stock token product. And just last month, Binance opted to introduce mandatory Know Your Customer (KYC) checks for all its users in order to strengthen compliance.

The exchange platform also moved to discontinue trading for the Singapore dollar as well as the Norwegian Krone.

As reported by BTC PEERS, the U.S. Commodity Futures Trading Commission (CFTC) recently intensified its probe into Binance U.S. for suspected market manipulation and insider trading.

Continue reading on BTC Peers


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