Binance Shuts Down Derivatives Trading & Gets Banned In Malaysia

Binance faces more regulatory pressure! Now Binance shuts down derivatives trading in Europe! Binance stated on Friday:

“We’re continually evaluating our products and working with our partners to meet our users’ needs.

today we are announcing that we plan to wind down our derivatives products offerings across the european region, commencing with the netherlands, germany, and italy.”

Binance via Twitter

Binance explained its decision by committing to engage in a constructive dialogue with global regulators. This action may be enough for European regulators; but not for Malaysian regulators!

Binace banned in Malaysia!

Malaysia’s securities commission ordered Binance to stop its operations within the next 14 days. The commission said Binance must disable its website and mobile application within the next two weeks. Also, Binance must stop all media and marketing activities. This includes restricting access for Malaysian investors for its Telegram group. 

The reason: Binance operated illegally in Malaysia. 

Binance has been on Malaysia’s alert list of unauthorized entities for a long time now – the exchange has not been registered in the country. 

If Binance will face more regulatory pressure in other countries is yet to see.

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