Binance, the leading cryptocurrency exchange by trading volumes, announced it is discontinuing its derivatives and futures products in Germany, Italy, and the Netherlands. This is likely the consequence of the regulatory crackdown that governments all over the world have exerted on Binance lately. The company also stressed this was the start of a complete plan to wind down their derivatives products offerings across the European region in a now-deleted tweet.
Binance Discontinues Derivatives Offering in Germany, Italy, and the Netherlands
Binance, one of the biggest cryptocurrency exchanges, has announced it will be winding down its derivatives and futures products in Germany, Italy, and the Netherlands, three countries that belong to the European Union. In its official statement, Binance stressed:
As the crypto ecosystem evolves globally, we are continually evaluating our products and working with our partners to meet our users’…