Binance Stops Futures Services In Australia, Why Again?

Read more about Futures in Australia (Atozmarket)

JAKARTA – Binance, which is the world's number one crypto exchange, plans to stop a number of its services for users in Australia.

Binance announced that futures trading services including options and leverage will not be accessible to Kangaroo citizens and will be closed on December 24th.

Launching TheDailyHodl, Binance considers the decision to be part of an effort to comply with applicable regulations. However, in the last few months Binance has often been hit by regulations from various countries.

“Our goal is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes the development of our industry regulatory framework as it provides an opportunity for market players to forge greater relationships with regulators.

We are committed to working constructively on policies that seek to benefit every user.”

[/see_also]

- https://voi.id/technology/82292/government-singapura-larang-binance-operating-ini-alasan

- https://voi.id/technology/82299/government-afrika-selatan-tolak-binance-as-jasa-keuangan-digital-yang-sah

- https://voi.id/technology/75967/binance-hentikan-service-di-korea-selatan-lho-why

[/see_also]

Previously, Binance was also banned from operating in the UK. Then a number of giant banks such as Barclays and HSBC also blocked payments to the Binance crypto exchange.

In the midst of pressure from global regulators, Binance began tightening registrants on its platform and started implementing KYC or Know Your Customer as well as AML, anti-money laundering.

With the decision, Binance reportedly reduced the leverage options for new users to a maximum of 20x. Some time ago Binance has also announced that it will no longer list stock tokens on its platform.

As the world's largest crypto exchange, Binance does not have a headquarters. However, recently the crypto trading company owned by Changpeng Zhao is reportedly looking for a new location to set up its headquarters.