Binance will limit the trade in derivatives in South Africa – Bits Media

Yesterday, 8 October, Binance cryptocurrency exchange has announced the termination of access to derivatives trade for users from South Africa due to regulatory requirements.

As reported in the article in the company's blog, Access to cryptocurrency derivatives It stops immediately. Users have 90 days to close their positions - after this period of the transaction will be closed automatically. To maintain marginal requirements, During this time, users will be able to replenish their accounts to trade derivatives, However, the possibility of increasing positions will be disconnected.

The article emphasizes, that Binance does everything necessary to comply with the requirements of regulators of various countries. Note, that the exchange is not registered with the South African regulator and, As far as it is known, did not submit such an application. At the same time, South Africa, Along with Nigeria, is a leading country on the continent in terms of transactions with cryptocurrencies.

Recall, that similar Binance restrictions have already introduced in several countries. So, Access to the trade of cryptocurrency derivatives was lost by residents of Australia and Hong Kong. The site also stopped trading in pairs with Korean volume and Singapore dollar.