Binance Ceases Offering Services in Australia

Cryptocurrency exchange Binance today announced that it will cease offering futures, options, and leveraged tokens to existing Australian users.

Effective from September 24, 2021, existing Australian users will have 90 days to reduce and close their positions for these products. Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions.

Users will no longer be able to manually reduce or close their positions after December 23, 2021, Thereafter all remaining open positions will be closed.

Earlier this month, Fazzaco reported that Binance would cease offering Singapore products from September 10 2021. Additionally, the company stopped offering services in Norway​ in late August.