Binance, the world’s largest cryptocurrency exchange, took another step in refining its product offerings in different markets around the world, this time in South Africa.
- Clients in the country are no longer able to open new accounts for futures, options, margins or leveraged tokens, Binance announced Friday.
- Users have 90 days to close existing positions, with all remaining open positions automatically closed on Jan. 6, 2022.
- The move continues Binance’s withdrawal of such services from various markets around the world in response to intense regulatory pressures earlier this year.
- The exchange ended its derivatives offering to Australian crypto traders last month.