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The Biance app is seen on a smartphone in this illustration taken on July 13, 2021. REUTERS / Dado Ruvic / Illustration / File Photo
LONDON, July 30 (Reuters) – Leading cryptocurrency exchange Binance on Friday announced it would end its futures and derivatives offerings across Europe, a move that comes after unprecedented pressure from the from regulators.
Binance users in Germany, Italy and the Netherlands will not be able to open new futures or derivatives accounts with immediate effect, the exchange said in a statement on its website.
Users in those countries will have, from a date to be announced later, 90 days to close their open positions, Binance said.
The move comes amid increasing pressure on Binance from financial authorities around the world, including Britain, Germany, Hong Kong and Italy. Read more
Following the unprecedented crackdown, Binance announced on Monday that it would stop offering cryptocurrency margin trades involving the Australian dollar, euro, and pound sterling. Read more
The exchange said earlier this month that it had stopped selling stock-linked digital tokens, after regulators cracked down on the cryptocurrency exchange’s “stock token” offerings. . Read more
Reporting by Tom Wilson; Editing by Tom Arnold
Our Standards: Thomson Reuters Trust Principles.
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