Binance announces suspension of derivatives trading in Europe

The company will initiate this process with Germany, Italy and the Netherlands, then proceed with the rest of the region

Binance announced that it will stop offering crypto derivatives trading within the entire European region, starting in Germany, Italy and the Netherlands.

“Today we announced that we plan to reduce our offer of derivative products throughout the European region” starting with the countries already mentioned as the exchange platform said through its social networks.

On the other hand, the company added that over time it will reduce access to the region for local futures and derivatives products.

Binance noted that the latest move aligns with a commitment to engage in constructive dialogue with global regulators regarding local requirements.

This line of actions is based on the idea of ​​the company to gradually reduce some services. The daily withdrawal in Europe is expected to be reduced from 2 bitcoin to 0.06 in August.

K. Tovar

Source: Cointelegraph

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