Australians will not be able to trade futures and options on Binance

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Cryptocurrency exchange Binance announced that since September 24, the site has limited the ability for Australian residents to trade cryptocurrency futures and options, as well as leveraged tokens.

The reason for this decision is cited as Binance’s desire to comply with the requirements of local regulators:

“We are committed to building a sustainable ecosystem around blockchain and digital assets. Binance welcomes the development of new regulatory documents for our industry, as they provide new opportunities for interacting with regulators. We will continue to work constructively with regulators, ”the site said in a statement.

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Users were given the opportunity to close their positions within 90 days. At the same time, it will be possible to replenish accounts in order to increase the margin security of transactions in order to avoid liquidation. However, Australians will not be able to increase their positions or open new ones. After December 23, all open at that time positions in options, futures and margin tokens will be forcibly closed by the system.

In early August, Binance stopped trading in pairs with the Korean Won and significantly restricted other services for South Koreans due to regulatory requirements.

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