Binance Removes Derivatives in Australia

Binance will have completely removed its derivatives products from the Australian market by the end of this year.

Binance users trading futures, options and leveraged tokens in Australia have until 02:59 CEST on December 24, 2021 to close their currently open positions.

Binance agrees with the relevant decision. “to comply with local regulations” stated that it was taken after the evaluations made.

Binance announced on August 19 that users residing in Australia who do not yet have a derivatives account can no longer can’t open new account had announced.

As of August, the stock market also restricted the use of the Australian dollar in addition to the euro and the British pound in margin trading.

According to the statements of Binance CEO Changpeng Zhao, it is now with regulators “more active” Binance, which is in a negotiation, has been investigated by the US Commodity Futures Trading Commission (CFTC) on suspicion of information fraud, according to Bloomberg’s report.

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