Binance’s fortunes demonstrate no indications of stopping. After stopping derivatives trading in Germany, Italy and the Netherlands on the afternoon of August six, 2021, Binance continued to quit trading derivatives in the Hong Kong industry.
Specifically, with instant result, Hong Kong customers will not be in a position to open new derivative accounts. For open positions, the consumer has 90 days to near his place.
New Hong Kong Binance customers can no longer open futures accounts and we will decrease entry for current customers.
This is 1 of the a lot of proactive measures Binance is taking to assistance set up cryptocurrency compliance ideal practices all over the planet.https://t.co/D1JKx52O7T
– CZ Binance (@cz_binance) August 6, 2021
Derivatives trading provided by Binance consists of:
It can be witnessed that immediately after Binance was warned by Hong Kong and associated to this market’s stringent restriction policy, Binance was forced to grow to be the 1st exchange to “actively restrict Hong Kong users to access products and services” . derivative goods “.
As reported by Coinlive, Binance has been “touched” by the authorities of a lot of nations in current months. After all, Binance “surrenders” to the attorney, CZ declares himself “ready to step down”. This problem is so negative that Binance has announced to quit giving trading of protection tokens and the explanation that there is no “force” to force Binance to quit giving protection tokens does not satisfy the local community.
Having to restrict derivatives trading in Hong Kong is this exchange’s most up-to-date “bad luck”, immediately after it was booed by the Malaysian Securities Commission for unlicensed operations.
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