Cointelegraph Team
Cointelegraph
Global cryptocurrency exchange Binance continues restricting support for some of its trading services amid an ongoing regulatory crackdown.
Binance officially announced Monday that the exchange would delist margin trading pairs for three fiat currencies, including the Euro (EUR), the Australian dollar (AUD) and the British pound sterling (GBP).
According to the announcement, Binance will suspend mentioned fiat trading pairs on Aug. 10 and then switch to automatic settlement and cancel all related pending orders. The isolated margin trading pairs will be entirely delisted from the exchange by Aug. 12.
The latest trading restriction comes in line with Binance’s aggressive efforts to curb trading risks alongside its recent decision to significantly limit leverage trading, reducing maximum leverage positions from 125x to 20x on Binance Futures.
“Margin trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement,” the announcement notes.
The news comes amid Binance facing increased scrutiny from global regulators and financial institutions recently. The exchange has been served multiple warnings from authorities in the United States, the United Kingdom, Italy, and other countries. A number of British financial institutions like Barclays and NatWest bank have also started blocking payments to Binance since late June.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.