Binance Restricts Crypto Futures and Options Trading in Australia

Binance, the world’s largest cryptocurrency exchange by trading volume announces the trading restrictions on futures, options and leveraged tokens trading in Australia.

As per the official announcement, all the existing users have to reduce and close their ongoing positions within 90 days.

From Friday, new Australian users will no longer be able to open new positions for crypto derivatives on Binance.

All remaining open positions after 2021-12-23 11:59 PM (UTC) will be closed automatically.

According to the post, “Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators.”

“We are committed to working constructively in policy-making that seeks to benefit every user.”