• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Binance suspends futures, options trading in Australia amidst regulatory troubles

September 21, 2021
in Regulations
Reading Time: 2 mins read
A A
0
Binance suspends futures, options trading in Australia amidst regulatory troubles
0
SHARES
8
VIEWS
ShareShareShareShareShare

In its latest attempt to be more regulatory compliant, Binance has announced that it would not be able to offer its users in Australia access to futures and options trading. This was contained in an announcement made earlier today.

No future tradings for Aussies using Binance

According to the official announcement released by the platform, the leading crypto exchange would also be suspending accessibility to leverage tokens. Leverage tokens is a derivative product that traders could use to gain some level of leveraged exposure/position to crypto assets without the high level of risks attached to liquidation.

“As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to existing Australian users: Futures, Options, Leveraged Tokens,” the press release reads in part.

The announcement also revealed that Aussies would have a maximum of 90 days to close their positions on these trading products. The 90 days period is expected to start from September 24 and would close by December 23. This means that any user who is unable to close their position by that period would be unable to do so again.

Binance’s regulatory compliance efforts

This came a few weeks after the exchange restricted new accounts in the country from options, margin products, and leveraged tokens. Recall that in July, Binance also suspended margin trading using sterling, the euro, and the Australian USD in compliance with local regulations.

While the exchange has taken some actions to become more regulatory compliant, its regulatory troubles remain unchanged. Just recently, we reported that the CZ-led exchange and its staff could be under investigation by the CFTC for possible insider trading.

Though the exchange has spoken tough about this “investigation,” however, financial regulators are still on the neck of the crypto firm.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Credit: Source link

ShareTweetSendPinShare
Previous Post

This week’s sell-off, brought to you by the letter ‘C’ : Morning Brief

Next Post

Following a 10% Weekly Crash, ADA Bulls Defend $2 Support

Related Posts

Bitcoin cannot be stopped – Regulators will only be playing Whack-a-Mole: Caitlin Long
Regulations

Bitcoin cannot be stopped – Regulators will only be playing Whack-a-Mole: Caitlin Long

March 25, 2023
0
Coinbase moves to on-chain staking for Tezos, Cosmos, Solana, and Cardano
Regulations

Coinbase moves to on-chain staking for Tezos, Cosmos, Solana, and Cardano

March 24, 2023
3
Polygon, ex-Meta executives defend Coinbase following SEC Wells notice
Regulations

Polygon, ex-Meta executives defend Coinbase following SEC Wells notice

March 24, 2023
4
Coinbase’s Brian Armstrong criticizes US crypto regulation, SEC behavior in Twitter Space
Regulations

Coinbase’s Brian Armstrong criticizes US crypto regulation, SEC behavior in Twitter Space

March 24, 2023
3
Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets
Regulations

Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets

March 24, 2023
2
Next Post
Following a 10% Weekly Crash, ADA Bulls Defend $2 Support

Following a 10% Weekly Crash, ADA Bulls Defend $2 Support

Recommended

Ripple CEO advises U.S. to embrace crypto regulations

Ripple CEO advises U.S. to embrace crypto regulations

March 3, 2023
6
Justin Sun 100% confident Huobi will obtain Hong Kong VASP license

Justin Sun 100% confident Huobi will obtain Hong Kong VASP license

March 1, 2023
3
Solana Network Suffers 20-hour Outage, Root Cause Still Unknown

Solana Network Suffers 20-hour Outage, Root Cause Still Unknown

February 28, 2023
4
USDC’s supply has plunged $21 billion from peak as banking turmoil scares crypto investors

USDC’s supply has plunged $21 billion from peak as banking turmoil scares crypto investors

March 17, 2023
7
Is it safe to buy the Boohoo share price dip?

Is Boohoo a good turnaround stock to invest in?

March 17, 2023
3
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Binance employees and ‘angels’ helping crypto investors in China and other counties with bans evade resrtictions
  • Bitcoin cannot be stopped – Regulators will only be playing Whack-a-Mole: Caitlin Long
  • Kaiko: Liquidity situation in crypto “worsening” amid USD payment rails issue

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?