Binance to restrict derivatives trading for Hong Kong users
Binance is yet to announce an official date for imposing restrictions on derivatives products for Hong Kong users. Stepping up efforts to minimize the inherent risks of trading cryptocurrency, major crypto exchange Binance has announced it would restrict access to derivatives products to Hong Kong users. The official announcement reads:“Users from Hong Kong will have a 90 days’ grace period to close their open positions. During the grace period, no new positions may be opened.”However, Binance’s proactive means to restrict Hong Kong users was not supported by a date of when the....
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Fresh off the heels of Binance’s last announcement to discontinue crypto derivatives offerings in Germany, Italy, and the Netherlands, the company revealed on Friday crypto derivatives products in Hong Kong will cease as well. Effective immediately, users won’t be able to open new derivatives positions and customers with existing derivatives positions have 90 days to close them. Binance Ends Crypto Derivatives Offerings in Hong Kong Binance revealed on August 6 that the exchange will no longer offer crypto derivatives products to customers. The news follows the company’s....
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