Binance, the Bitcoin exchange, warned that by December 23, 2021 it will wind down the ability to trade crypto-derivatives for users from Australia. This is stated on the company’s website.
In late August the company announced the appointment of Lee Travers, the former CEO of the world’s first publicly listed blockchain company DigitalX, as CEO of the Australian subsidiary.
Earlier the Bitcoin exchange announced plans to wind down crypto-derivative trading in Europe, starting with Germany, Italy and the Netherlands. Access was also lost for users in Hong Kong.
In the summer the platform reduced the daily withdrawal limit for new clients who had completed basic account verification, and reduced leverage on the futures platform to 20x.
In recent months, financial regulators from several countries, including the United Kingdom, the Netherlands, Italy, Poland, Japan, Thailand, Hong Kong, Singapore, South Africa and a number of others, issued warnings to investors about the exchange’s activities.
Against this background, Binance CEO Changpeng Zhao published an open letter, in which he outlined plans to ensure regulatory compliance and protect customers.
Bloomberg reported that the CFTC planned to investigate Binance for potential insider trading and market manipulation.
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