Binance to cease crypto futures and options in Australia

3d render golden bitcoins floating around dark background scaled

Binance users in Australia have 90 days to close their positions for futures, options and leveraged tokens.

Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia.

Existing Binance users in Australia will have 90 days to reduce and close their positions for products such as cryptocurrency futures, options and leveraged tokens, the exchange announced Monday.

Effective from Friday, Australian users will no longer be able to increase or open new positions for derivatives products on Binance. Users will still be able to top-up their margin balances to prevent liquidations and margin calls, the announcement notes.

After Dec. 23, Binance users in Australia will no longer be able to manually reduce or close their positions, as all remaining open positions will be closed.

“We are committed to our industry for the long term and we want to ensure our product offerings are welcomed by users and local regulators,” a spokesperson for Binance told Cointelegraph. “We also monitor local regulatory requirements across different markets as Binance operates globally. We want to ensure the process for any transition we make is not disruptive,” the representative added.

Related: Binance limits SGD product offerings in Singapore amid regulatory warnings

Binance’s latest trading suspensions in Australia follow a series of similar restrictions in other countries amid the exchange facing several warnings from multiple global regulators. In August, Binance reportedly halted crypto derivatives trading in Brazil, following similar suspensions on its Hong Kong operations. Previously, Binance suspended derivatives trading for users in Germany, Italy and the Netherlands as part of its broader plans to cease these products across Europe.

Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 51,749.87
ethereum
Ethereum (ETH) $ 3,114.57
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 388.56
solana
Solana (SOL) $ 103.39
staked-ether
Lido Staked Ether (STETH) $ 3,109.22
xrp
XRP (XRP) $ 0.542224
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.590175
avalanche-2
Avalanche (AVAX) $ 37.35
dogecoin
Dogecoin (DOGE) $ 0.086004
tron
TRON (TRX) $ 0.137811
chainlink
Chainlink (LINK) $ 18.76
polkadot
Polkadot (DOT) $ 7.90
matic-network
Polygon (MATIC) $ 0.992667
uniswap
Uniswap (UNI) $ 10.97
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 51,857.89
the-open-network
Toncoin (TON) $ 2.09
internet-computer
Internet Computer (ICP) $ 12.54
shiba-inu
Shiba Inu (SHIB) $ 0.000010
bitcoin-cash
Bitcoin Cash (BCH) $ 267.65
litecoin
Litecoin (LTC) $ 70.15
dai
Dai (DAI) $ 1.00
immutable-x
Immutable (IMX) $ 3.22
filecoin
Filecoin (FIL) $ 8.21
cosmos
Cosmos Hub (ATOM) $ 10.37
leo-token
LEO Token (LEO) $ 4.25
ethereum-classic
Ethereum Classic (ETC) $ 27.23
kaspa
Kaspa (KAS) $ 0.170124
near
NEAR Protocol (NEAR) $ 3.68
blockstack
Stacks (STX) $ 2.59
optimism
Optimism (OP) $ 3.86
hedera-hashgraph
Hedera (HBAR) $ 0.108951
bittensor
Bittensor (TAO) $ 568.80
aptos
Aptos (APT) $ 9.64
stellar
Stellar (XLM) $ 0.116619
first-digital-usd
First Digital USD (FDUSD) $ 1.00
vechain
VeChain (VET) $ 0.045547
injective-protocol
Injective (INJ) $ 35.76
lido-dao
Lido DAO (LDO) $ 3.39
okb
OKB (OKB) $ 50.28
mantle
Mantle (MNT) $ 0.884766
celestia
Celestia (TIA) $ 16.78
the-graph
The Graph (GRT) $ 0.294800
render-token
Render (RNDR) $ 7.22
crypto-com-chain
Cronos (CRO) $ 0.094432
arbitrum
Arbitrum (ARB) $ 1.90
monero
Monero (XMR) $ 129.57
sei-network
Sei (SEI) $ 0.818682
sui
Sui (SUI) $ 1.64