Binance Ends Various Offerings to Clients in South Africa

Clients in South Africa are no longer able to open new accounts for futures, options, margins or leveraged tokens.

Oct 8, 2021 at 9:35 a.m. UTC
Updated Oct 8, 2021 at 2:36 p.m. UTC

Binance, the world’s largest cryptocurrency exchange, took another step in refining its product offerings in different markets around the world, this time in South Africa.

  • Clients in the country are no longer able to open new accounts for futures, options, margins or leveraged tokens, Binance announced Friday.
  • Users have 90 days to close existing positions, with all remaining open positions automatically closed on Jan. 6, 2022.
  • The move continues Binance’s withdrawal of such services from various markets around the world in response to intense regulatory pressures earlier this year.
  • The exchange ended its derivatives offering to Australian crypto traders last month.

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Jamie Crawley is a CoinDesk news reporter based in London.