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Binance Restricts Crypto Futures and Options Trading in Australia



Binance Crypto Exchange

Binance, the world’s largest cryptocurrency exchange by trading volume announces the trading restrictions on futures, options and leveraged tokens trading in Australia.

As per the official announcement, all the existing users have to reduce and close their ongoing positions within 90 days.

From Friday, new Australian users will no longer be able to open new positions for crypto derivatives on Binance.

All remaining open positions after 2021-12-23 11:59 PM (UTC) will be closed automatically.

According to the post, “Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators.”

“We are committed to working constructively in policy-making that seeks to benefit every user.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.