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Binance Extends Restrictions on Derivatives Offering in Australia
The move is the latest by Binance to address regulatory and compliance concerns proactively in response to intense regulatory scrutiny.
Updated Sep 14, 2021, 1:42 p.m. Published Aug 19, 2021, 9:37 a.m. 1 min read
Crypto exchange Binance has continued its shift to a proactive compliance standpoint by extending restrictions on derivatives trading to users in Australia.
- Effectively immediately, Australian users will not be able to open new accounts for options, margin products and leveraged tokens, Binance announced Thursday.
- The announcement extends existing restrictions effective Aug. 7 that prevented users from opening new futures accounts.
- The move is the latest by Binance to address regulatory and compliance concerns proactively, in response to intense scrutiny from regulators around the world that the exchange has been subjected to in recent months.
Read more: Binance Appoints Former US Treasury Enforcer to Anti-Money Laundering Role
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CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
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- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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