Cryptocurrency Exchange Binance Has Begun Limiting Leverage For New Traders And Is Preparing To Apply The Same Conditions To Existing Clients. This Was Announced By Binance Ceo Changpeng Zhao On Twitter.
According To Zhao, As Of Monday, July 19, New Users’ Positions On Binance Futures Cannot Exceed 20 Times Their Own Funds.
“in The Interest Of Consumer Protection, We Will Gradually Apply The Same Rule To Existing Users Over The Next Few Weeks,” He Added.
At The End Of May, Binance Raised The Leverage Limit For Btc / Usdt Contracts To 125x. Zhao Then Linked The Decision To The Increased Participation Of Institutional Traders “Looking For The Most Efficient Ways To Trade In Terms Of Both Cost And Performance.” Thus, A Trader With 100 Usd Could Open A Position On Bitcoin With A Volume Of 12,500 Usdt.
Subsequently, Binance Faced Increased Scrutiny From The Authorities Of Several Jurisdictions, Including Regulators In The United States, Canada, The United Kingdom, The Cayman Islands, Italy, Poland, Japan, Hong Kong, Thailand And Singapore.
Hong Kong Ftx Also Limited Leverage To 20x On Sunday. Ftx Ceo Sam Bankman-freed Saidthat The Trend Has Been Brewing In The Cryptocurrency Industry For Some Time Now, And Other Platforms Are Likely To Follow Suit.
Upd: Also Today, Binance Announced The Upcoming Delisting Of Pairs For Margin Trading With The Australian Dollar, Euro And British Pound. They Will Be Disabled On August 10 And 12. The Company Did Not Comment On The Reasons For Its Decision.
