Widely used crypto exchange Binance terminates margin trading on the pound sterling, the euro, and the Australian dollar from August 10.
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As noted in the blog post released on July 26, Binance Margin will be settled in an automated way, annul orders, and remove pairs that include the above-mentioned currencies.Isolated margin trading pairs will be fully removed from the network till August 12. Margin allows getting loans, making purchases with it and gaining income.
Binance’s decision came amid the regulatory problems the company has been facing.
Different countries banned the exchange or issued warnings about it. The most recent of them became Hong Kong and Lithuania, which urged the exchange management to register with local jurisdictions to be eligible to work with crypto traders.
Today, Binance decided to make the available leverage 20X on Binance Futures compared to the previous 125X. A day ago, another major crypto platform, FTX informed users about reducing its leverage size. On July 16, Binance disclosed ceasing support for stock tokens.
The company is strengthening its compliance efforts. Binance CEO CZ said recently that it is effective to employ different strategies for different places as each country has its own approach for regulation.
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He also revealed that the US branch of the company may go public soon.