Crypto derivatives (futures, options, etc.): Binance will reduce its offering in France to comply with French regulations
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Futures, options, and other derivative products are reserved for well-informed investors
From August 2, the giant Binance will no longer allow its customers to carry out certain trading operations. The company sent an email to its French users on Wednesday informing them of the news. “As Binance is constantly reevaluating its product and service offerings to comply with local regulations, we will be making changes to the following products for users residing in France: Futures, Options, Leveraged Tokens, Binance Earnings (dual investment)“, explained Binance in its email. In addition, French users will no longer be able to “increase (their) positions in these products or open new positions”. They will be able to “fill their balances on margin to avoid margin calls and liquidation or repurchases, reductions, and Close any of their existing positions,” Binance added.
Must pass the test to qualify as an informed investor?
To be able to get access to derivatives or optional financial products, you must have past experience or your level of knowledge is sufficient to be authorized to invest in these highly risky products. By protecting clients from financial intermediaries, French regulations make it very easy for their clients to invest in sectors they do not regulate. Investments are not casinos.
“These are highly complex financial instruments used by advanced or technical investors. Investors, companies and governments use derivatives such as forwards or futures to hedge their risk and exposure to asset price volatility.“, Binance wrote on its blog to qualify the futures contract.
“We proactively and continuously review our product offerings and operations based on user needs, changing regulatory criteria and future opportunities to determine changes and improvements.“, explained a Binance spokesperson to BFMBsinness.”We are fully committed to the development of our industry and our priority is to satisfy our users by complying with local regulations“, he added.
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