Today Binance has made an important announcement on the offering of services related to futures market trading. Over the past few months, the authoritative body has been pressuring the crypto trading exchange, Binance to stop some of their services.
Most recently, Binance announced the termination of futures, options and leveraged crypto markets trading for Australian consumers. The announcement on September 21 makes it clear that only Australian consumers will be affected.
The move will take effect on September 24 where the Binance trading exchange will stop offering futures, options and leveraged crypto markets. Australian consumers have 90 days to make final preparations such as closing a trading position. However those involved should not increase or open new positions.
If it is found to fail to close a trading position no later than December 23, 23:59 (UTC) then all trading positions will be closed automatically.
At the same time, Binance acknowledged that this was part of an effort to maintain cooperation with authoritative bodies.
