Binance is closing access for EU residents to futures

After the obvious, illegal financial services in the EU, and not only in the EU. After the statements of some financial regulators in EU: Lithuania, Italy, Germany, Malta, Poland and other countries - Binance began retroactively remove those or other illegal financial services, or at least declare it.

This includes Binance delisting trading pairs involving AUD, EUR and GBP and ending support for securities-based tokens (tokenized shares) for users from around the world. But with all the services of the fraudulent Binance casino, it's going to take a long time to clean up there.

Casino exchange Binance announced today that it will stop serving derivatives products to residents of the European region, beginning with a ban in Germany, Italy and the Netherlands:

"We are continually evaluating our products and working with partners to meet user needs," the exchange wrote. - The European region is very important to Binance. Authorities here are proactive in shaping more harmonious regulation of cryptocurrencies, and this is a positive sign for the industry. We understand that many regulators at the local level may have their own position on cryptocurrencies and welcome the opportunity to engage in constructive dialogue. While we are not actively promoting futures and derivatives in individual countries, we intend to begin to further restrict access to these products in the region."

"With immediate effect, users from these countries will not be able to open new accounts for futures or derivatives products. With a later date to be announced, users will have 90 days to close their positions," the notice said.

This week, Binance announced a reduction in withdrawal limits from undocumented accounts from 2 BTC to 0.06 BTC per day. While users of cryptocurrency exchanges often resort to VPNs to circumvent various restrictions, the requirement will further complicate European customers' access to Binance's futures platform.

31.07.21

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