Binance Extends Restrictions on Derivatives Offering in Australia

The move is the latest by Binance to address regulatory and compliance concerns proactively in response to intense regulatory scrutiny.

Aug 19, 2021 at 9:37 a.m. UTC
Updated Sep 14, 2021 at 1:42 p.m. UTC

Crypto exchange Binance has continued its shift to a proactive compliance standpoint by extending restrictions on derivatives trading to users in Australia.

  • Effectively immediately, Australian users will not be able to open new accounts for options, margin products and leveraged tokens, Binance announced Thursday.
  • The announcement extends existing restrictions effective Aug. 7 that prevented users from opening new futures accounts.
  • The move is the latest by Binance to address regulatory and compliance concerns proactively, in response to intense scrutiny from regulators around the world that the exchange has been subjected to in recent months.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.