Binance to stop serving futures and derivatives products in most European countries

Binance has been scrutiny by a lot of countries and today, it has officially announced that it will stop winding down its futures and derivatives products offers in most European countries including Germany, Italy and Netherlands.

binance announcement

Does this mean you should be taking out your coins from Binance cryptocurrency exchange? Clearly, they seem to have very little idea of the regulatory landscape in which they operate. Some might call it outright ignorance.

And if you are thinking of taking your trading business somewhere else like FTX, for instance? Why would FTX or any other exchange, unless they wish to remain very small, be immune to the same rules and regulation as Binance?  It is only a matter of time – better to be on the front foot with this in our opinion.

If you want to be safe, trade on 100% decentralized exchanges but there, the trouble is you can trade only tokens that run on that particular platform only. For instance, if you want to trade on Uniswap, you can only trade ERC20 tokens that run on Ethereum platform. Or if you trade on Stellarport / stellarport, you can only trade assets that run on Stellar network.

 

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