Global cryptocurrency exchange Binance continues that it will restrict support for three fiat currency pairs on its margin trading platform. It includes the Euro (EUR), the Australian dollar (AUD), and the British pound sterling (GBP).
Binance announced today it will delist all AUD, EUR, and GBP cross and isolated margin pairs.
Exchange disclosed that it will suspend these margin trading pairs on August 10, including significant cryptocurrencies. Binance will conduct automatic settlement, cancel pending orders and delist all affected pairs by Aug. 12.
The announcement further warns investors of the risks associated with margin trading.
“Margin trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Margin.”
The announcement comes soon after an hour of CEO Changpeng Zhao’s announcement that “Binance was reducing maximum leverage users can to trade futures contracts from 100x to 20x. Regulators from the US, the UK, Italy, and Japan have warned the company. Additionally, It also sued by Thailand’s Securities and Exchange Commission (SEC).
