Cryptocurrency exchange Binance announced that it has settled all differences with the South African regulator and has resumed offering futures products in the region.
A year ago, Binance blocked South African users from accessing its futures trading platform after the Financial Conduct Authority (FSCA) warned the public against trading with Binance. The regulator also said that the exchange is not authorized to provide financial advice or provide intermediary services in South Africa.
However, the exchange has now announced that perpetual futures and delivery contracts are once again available to users in the region. At the same time, the type of offered futures products has not changed. Binance announced that over the past year it has managed to resolve the differences with the regulator and its activities in the region are allowed.
“From September 26, 2022, USDS-M and COIN-M perpetual and deliverable futures contracts will be available to South African users on Binance through a legal representative agreement with FiveWest OTC Desk Ltd,” the exchange said in a statement.
Earlier it was reported that Binance requested permission from the FSA to operate in Japan. The request is due to the softening of the position of the country’s government in relation to cryptocurrency companies.
Source: Bits
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