Is Binance banned in HK?

Binance says it will no longer allow users from Hong Kong to open futures accounts. According to an official announcement, the huge exchange plans to restrict users “in respect of derivatives products (including all futures, options, margin products and leveraged tokens) in-line with our commitment to compliance”.

Why are countries banning Binance?

Financial watchdogs around the world have placed Binance under scrutiny in recent months, citing concerns over the use of cryptocurrencies in money laundering and the high-risk nature of its products.

Why is Binance stopping futures?

Binance, the world’s largest cryptocurrency by volume, will stop offering cryptocurrency futures and options to its Australian customers. In an announcement on its blog, Binance said the move was part of its constant evaluation of products and services to comply with local regulations.

Is Binance going to shutdown?

Binance Singapore has withdrawn its application for a license to operate a cryptocurrency exchange, and will shut down its trading platform in the city-state by February 13. Binance Singapore’s users will be informed through email as to what steps they will need to take as the platform ceases its operations.

Is Binance Hong Kong?

Started just four years ago, Binance is the exchange giant that towers over the digital currency world, a crypto equivalent of the London, New York and Hong Kong stock exchanges combined.

Is Binance a Hong Kong company?

Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency.

Is Binance banned in China?

Beijing’s latest ban on crypto transactions and services offered by overseas exchanges targeted these loopholes. Binance has said people in China haven’t been able to access its website since 2017. After the new rules were announced, it said it had started blocking account registrations using Chinese cellphone numbers.

Is Binance going to be banned in Australia?

Binance is ending its derivatives offerings to Australian crypto traders by the end of this year. Existing users have 90 days to reduce and close their positions on options, futures, and leveraged tokens.

Is Binance approved in Australia?

Binance Australia has updated its security requirements for local residents looking to access crypto on the platform as part of its “compliance efforts,” the exchange said Wednesday. Binance is a separate entity from Binance Australia, which, in turn, is operated by InvestbyBit.

Why is Binance banned in China?

Binance has said people in China haven’t been able to access its website since 2017. After the new rules were announced, it said it had started blocking account registrations using Chinese cellphone numbers. Appeared in the October 14, 2021, print edition as ‘Crypto Exchange Binance to Prevent Trading With Yuan.