{"id":46956,"date":"2021-07-30T12:30:02","date_gmt":"2021-07-30T09:30:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46956"},"modified":"2025-09-01T18:58:53","modified_gmt":"2025-09-01T15:58:53","slug":"binance-to-wind-down-derivatives-trading-in-three-european-countries","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-to-wind-down-derivatives-trading-in-three-european-countries\/","title":{"rendered":"Binance to wind down derivatives trading in three European countries"},"content":{"rendered":"<p>Bitcoin exchange Binance announced plans to wind down derivatives trading in Europe, starting with Germany, Italy and the Netherlands.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;re continually evaluating our products and working with our partners to meet our users\u2019 needs. <\/p>\n<p>Today we\u2019re announcing that we plan to wind down our derivatives products offerings across the European region, commencing with the Netherlands, Germany, and Italy.<\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1421033044337729536?ref_src=twsrc%5Etfw\">July 30, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>With immediate effect, users in these countries will not be able to open new futures or derivative-product accounts. From a later date to be announced, users will have 90 days to close positions, according to the notice.<\/p>\n<\/blockquote>\n<p>Earlier, Binance lowered the daily withdrawal limit <a href=\"https:\/\/u1f987.com\/en\/news\/binance-cuts-daily-withdrawal-limit-for-new-users-from-2-btc-to-0-06-btc\">for new users who have completed basic account verification to 0.06 BTC, down from 2 BTC. Binance also <a href=\"https:\/\/u1f987.com\/en\/news\/binance-cuts-leverage-on-futures-platform\">reduced the leverage on the futures platform to 20x<\/a>.<\/p>\n<p>On 28 July <a href=\"https:\/\/u1f987.com\/en\/news\/binance-launches-api-for-clients-tax-reporting\">the company announced the launch of a new <span data-descr=\"application programming interface\" class=\"old_tooltip\">API<\/span><\/a>, enabling clients to track their crypto-asset transactions for tax reporting.<\/p>\n<p>In June the UK Financial Conduct Authority <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">banned Binance Markets Limited<\/a> from any regulated activity in the country without prior written approval.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/cayman-islands-regulator-launches-probe-into-binance\">The Cayman Islands<\/a> began a review of the exchange&#8217;s operations, <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-accuses-binance-of-operating-without-a-license\">Thailand<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-regulator-warns-binance-group-entities-are-operating-without-a-licence\">Hong Kong<\/a> accused the company of unauthorised activity, while <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-regulator-issues-another-warning-to-binance\">Japan<\/a> issued another warning.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/polish-regulator-urges-caution-in-using-binance-services\">Polish regulators<\/a> urged caution in using Binance&#8217;s services. <a href=\"https:\/\/u1f987.com\/en\/news\/italy-and-malta-warn-consumers-about-unregulated-binance-activity\">Italy and Malta<\/a> warned consumers about the company&#8217;s unregulated activities.<\/p>\n<p>Against the backdrop of regulatory pressure, Zhao published a letter outlining the exchange&#8217;s plans for customer protection and ensuring compliance.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin exchange Binance announced plans to wind down derivatives trading in Europe, starting with Germany, Italy and the Netherlands.<\/p>\n","protected":false},"author":1,"featured_media":46957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,733],"class_list":["post-46956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-europe"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46956"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46956\/revisions"}],"predecessor-version":[{"id":46958,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46956\/revisions\/46958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46957"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}