Binance Suspends offers of derivative products in Hong Kong and worries other countries.

products like future can no longer be used.

In an official statement, binance clarifies that it will no longer offer these services to Hong Kong residents.

note:

Effective immediately, Hong Kong users will not be able to open new accounts for derivative products. In addition, from a date to be announced in further notice, Hong Kong users will have a 90-day grace period to close their open positions. During the grace period, no new positions can be opened. As a market leader, Binance constantly evaluates its product and service offerings. We will be restricting Hong Kong users to derivative products (including all futures, options, margin products and leveraged tokens) in line with our commitment to compliance.Binance will be the first major cryptocurrency and digital asset exchange to proactively restrict access to derivative products for Hong Kong users. Our goal is to create a sustainable ecosystem around blockchain technology and digital assets, and we hope these efforts will help the industry grow in the local market in the long term.

Source Binance

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