Users will not be able to open new derivatives products
accounts with immediate effect, and Hong Kong users will have to close their
existing positions from a date to be announced, the statement said, adding this
was "in-line with our commitment to compliance"
Regulators in Hong Kong as well as in Britain, Germany,
Japan and Italy have been ratcheted up pressure on Binance in recent month,
worried about consumer protection and the standard of anti-money laundering
checks at crypto exchanges generally.
Last month, the exchange's CEO, Zhao Changpeng, said he
wanted to improve relations with regulators and that Binance would seek to
establish regional headquarters, breaking with its decentralised structure.
Binance also said last month it would wind down its futures and derivatives business in Germany, Italy and the Netherlands. - Reuters
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