Binance, the leading crypto exchange by trading volumes, has announced that it will no longer offer futures and options trading in Australia.
On top of that, the company will also remove support for leveraged tokens, a derivative product that allows users to gain leveraged exposure to cryptocurrencies without risking liquidation.
Starting from Sept. 24, its Aussie customers will have 90 days to exit their positions.
Binance.com writes:
- Futures
- Options
- Leveraged Tokens
To ensure its products are compliant with regulatory requirements in each country, the crypto exchange took a variety of steps.
Binance imposed mandatory kYC for all new users, binance no more offered derivative and future trading services for its Hong Kong users, binance stopped crypto futures trading services across European countries, daily withdrawal limit for binance unverified accounts was reduced and binance leverage trading limit was also reduced from 101x to 20x.
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