• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Crypto Exchange Binance South Africa
Nexo

Crypto Exchange Binance Stops Derivatives In South Africa Amid Regulatory War

Hououin Kyouma by Hououin Kyouma
10 months ago
in Bitcoin
0
Advertisement

Binance’s regulatory war continues as the crypto exchange announces it will no longer offer derivatives products in South Africa.

Binance Ceases Derivatives-Related Products For Users In South Africa

As per an announcement on the crypto exchange’s website, users from South Africa can no longer access derivatives offerings on the platform.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

These products include Futures, Options, Margin, and Leveraged Tokens. Binance has already stopped new account creation for these offerings, while users who already have accounts will get 90 days for reducing and closing their positions related to these.

“Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions,” clarifies the crypto exchange.

If any user fails to reduce or close their positions before 6 January 2022 11:59 PM (UTC), Binance will automatically do so.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The news comes after the Financial Sector Conduct Authority (FSCA) of South Africa posted a public warning regarding the crypto exchange just last month.

However, the country certainly isn’t the only one to do so. Over the last few months, Binance has received a barrage of warnings from regulators all over the world.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Related Reading | Binance Ceases Spot Crypto Trading And Other Services In Singapore

Some of the other nations to have put regulatory pressure on the crypto exchange include Italy, UK, Hong Kong, and Singapore.

Currently, Binance is the largest digital currency exchange in the world by market volume. It’s available in most of the world, but till now it hadn’t gotten official approval from various regional regulators.

To clear its regulatory woes, the crypto platform has decided to get licenses in various regions and work with regulators there to prevent any trouble.

Related Reading | Binance Charity Launches NFT Tree Planting Project ‘Tree Millions’ to Plant 10M Trees Worldwide

The firm says on its website:

Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.

Bitcoin Price

At the time of writing, BTC’s price floats around $56.6k, up 17% in the last seven days. Over the past thirty days, the crypto has gained 24% in value.

Here is a chart showing the trend in the price of Bitcoin over the last five days:

Bitcoin Price Chart

Bitcoin seems to be keeping up an overall uptrend | Source: BTCUSD on TradingView

Earlier, Binance reduced the crypto withdrawal limits for non-KYC users to just 0.4 BTC (from 2 BTC before). The move seems to have been taken in view of regulation for some regions of the world.

Featured image from Unsplash.com, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

bitcoin

Decline In Bitcoin Denominated Open Interest Sees Funding Rates Fall Below Neutral

10 hours ago
Bitcoin Mining

Why The Bitcoin Hashrate Has Barely Moved Since May

14 hours ago
Bitcoin Mining

Bitcoin Mining Company Returns Over 26,000 Rigs To Save Itself From A Ballooning Debt

20 hours ago
Ukraine

Ukraine Buys New Batch Of Weapons To Fight Russia Using $60 Million Crypto Donations

22 hours ago
bitcoin and stocks

Is the Bitcoin Stock Market Correlation Finally Ending?

2 days ago
Bitcoin

Bitcoin Is Now Accepted In This Popular Resort In The Maldives

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.