The world’s leading crypto exchange platform, Binance has announced that Binance will discontinue services of futures and derivatives crypto products for three European countries. Among the countries involved were the Netherlands, Italy and Germany which were given three months to make final preparations.
Based on the announcement posted on July 30, customers from those countries are not allowed to open new futures accounts at Binance. It is stated that this order is "effective immediately". However, for those who already have an account and trade derivatives are given 90 days to close a trading position or account.
It is rumored that this move is part of the company's long -term strategy to continuously evaluate services and work with partners to meet the needs of consumers ”.
Binance noted that this was only an initial step to stop offering futures and derivatives products across continental Europe.
Binance since these two has often faced pressure from the government. It is therefore not surprising that Binance has taken several steps to discontinue some of the products they offer.
Binance’s chief chairman, Changpeng Zhao, promised to make Binance regulated. In one of his Twitter tweets, he stated that "we understand that many among the regulators have a stake in kritpo, so we welcome the opportunity to engage in constructive dialogue on the necessary requirements from the government."
