Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Crypto Exchange Binance Halts New Hong Kong Futures Accounts

Aug. 6, 2021, 10:06 AM

Binance Holdings Ltd. will no longer allow users from Hong Kong to open new futures accounts.

The largest crypto exchange by reported turnover said in a Twitter post that the move is effective immediately.

“We will be restricting Hong Kong users in respect of derivatives products (including all futures, options, margin products and leveraged tokens) in-line with our commitment to compliance,” Binance said in a post on its website.

The former British colony has tightened its oversight on cryptocurrency trading and requires all platforms to register with a local watchdog, and be subject to anti-money laundering and counter-terrorism financing ...