The Binance exchange is not only expanding its business, but also curtailing its presence in some areas.
Leaving any market is directly related to the tightening of regulatory policy in a particular state.
The Australian arm of the crypto derivatives exchange will leave the country shortly.
The Binance statement notes that the decision to liquidate the Australian branch of the exchange was the result of the interaction between the crypto company and the Securities and Investments Commission (ASIC).
However, the spot representation of the exchange will continue to operate as usual.
The press service of Binance emphasized:
We have reached out to our users and notified them of the gradual phasing out process. We apologize for the inconvenience caused and we will be monitoring the process to make sure it is as smooth as possible.