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  • Crypto Exchange Binance Ceases Derivatives Trading in Australia

     Jhonny updated 5 months, 1 week ago 4 Members · 4 Posts
  • Japo_Japo

    September 22, 2021 at 7:01 am

    <strong style=”font-family: inherit; font-size: inherit;”>Amid regulatory scrutiny worldwide, global cryptocurrency exchange Binance has announced that it will cease offering futures, options, and leveraged tokens to Australian users in 90 days.

    <strong style=”font-family: inherit; font-size: inherit;”>c<b style=”font-family: inherit; font-size: inherit;”>hanges Coming to Binance Australia

    Cryptocurrency exchange Binance announced some changes to its offerings in Australia Tuesday. The exchange will cease offering futures, options, and leveraged tokens to existing Australian users. Binance explained:<b style=”font-family: inherit; font-size: inherit;”>

    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,” Binance added. “Users will no longer be able to manually reduce or close their positions after 2021-12-23 11:59 PM (UTC). Thereafter all remaining open positions will be closed.”

    Binance Australia has recently gone through some changes. On Aug. 30, the company announced that former Digitalx CEO Leigh Travers had joined Binance Australia as CEO. Digitalx is an ASX-listed blockchain technology company.

    Meanwhile, the exchange has been heavily scrutinized by regulators worldwide, including those in the U.K., Netherlands, Singapore, South Africa, Hong Kong, Malaysia, Thailand, Lithuania, Italy, and Canada. Last week, reports indicate that U.S. authorities are investigating Binance for possible market manipulation and insider trading.

  • Pernia

    September 24, 2021 at 5:37 pm

    How will it effect overall cryptocurrency on the whole?

    • FateXD

      September 25, 2021 at 5:54 pm

      I have same question on this?

      • Jhonny

        September 26, 2021 at 5:03 am

        I think it will make Bitcoin popular.

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