As per a recent Blog Post, Binance tail off its Futures and Derivatives products offering in Germany, Italy, and the Netherlands. Users from their countries will not be able to open new futures and derivatives products accounts, with immediate effect.
“We’re continually evaluating our products and working with our partners to meet our users’ needs. Today we’re announcing that we plan to wind down our derivatives products offerings across the European region, commencing with the Netherlands, Germany, and Italy.” – Binance.
From a date to be announced later, users from these countries will have 90 days to close their open positions, Binance said.
Also Read: Binance New Update Reduces Withdrawal Limit for non-KYC Accounts
The move comes amid growing pressure on Binance from financial authorities across the world, including Britain, Germany, Hong Kong, and Italy.
Following the unprecedented crackdown, Binance said on Monday it would stop offering cryptocurrency margin trading involving the Australian dollar, euro, and sterling.
