Binance Australia, the Australian subsidiary of the world’s largest crypto exchange has reportedly discontinued all its derivative product offerings. The news was reported by popular crypto platform Wu Blockchain who said some of the investors have informed them about the possible halting of crypto futures and margin products for new customers.
Binance has faced regulatory actions against its crypto futures and margins trading services due to its high leverage offering. Earlier, the US CFTC was also investigating Binance.US whether they offered leverage trading services to customers against the measures put out by regulators.
Some investors told WuBlockchain that binance Australia no longer provides Future functions to new local residents. pic.twitter.com/Z2OJr57l0G
— Wu Blockchain (@WuBlockchain) July 19, 2021
Binance is currently facing regulatory scrutiny in more than half a dozen countries that threaten its global dominance. The severity of regulatory warnings from different
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