Binance closes derivatives positions for Australian customers


Binance mentioned it has closed derivatives positions for a “small variety of Australian customers” that it misclassified as a “wholesale investor.”

crypto change Stated In accordance with Australian rules, we have now notified affected customers and closed their spinoff positions instantly.

Binance Added:

“We have now already contacted all affected customers and can totally compensate them for any losses incurred whereas buying and selling derivatives on Binance.”

of notification Despatched to some affected customers, urging them to supply new info or proof demonstrating that they meet the necessities to be categorized as a “wholesale investor.”

Below Australian regulation, wholesale buyers have monetary sources that allow them to take a long-term method to funding selections. They’re thought of extra refined {and professional} of their method to buying and selling.

In the meantime, following the information, the flagship digital asset Bitcoin (BTC) fell to $23,791 earlier than rising to its present worth of $24,071, based on cryptorace knowledge.


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