Binance Removes Futures Trading for Brazil Clients Following Regulation Woes

Aug 22, 2021 0 comments

image: moneyexpert.com.

Binance has once again removed its futures trading features for another country, this time Brazil clients will not have access to the trading features.

The latest move comes off the back of regulatory pressure from Brazil. Binance has moved to suspend trading of futures contracts on its Brazilian platform from Friday in order to comply with local regulations in the country.

According to a spokesperson at Binance, the move comes directly from an order related to the Brazilian regulators, “To respect the Brazilian order, Binance implemented restrictions on our website and stopped marketing on the derivatives products. If there are new changes, we will evaluate and proactively engage with the relevant stakeholders to find the optimal solutions for the local users. We will share more information if and when we have a decision and are ready to announce,” the spokesperson said.

Sourced from yahoo.com.

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