BCGAME - Free 5BTC Daily Bonus!Exchange Binance suspended futures contract trading on its platform in Brazil on Friday to comply with local regulations.
Brazilian customers can still trade futures, options, margin products and leveraged tokens as long as they access the products through the English-language website, but Binance has stopped trading its derivatives, the exchange confirmed through an external spokesperson.
In order to respect the Brazilian order, Binance implemented restrictions on our website and stopped the sale of derivative products. If there are new changes, we will assess and proactively engage with relevant stakeholders to find optimal solutions for local users. We will share more information if and when we have a decision and are ready to announce it, said Binance.
Binance tightened its customer knowledge requirements around the world after regulators in several countries announced investigations into the company.
More regulations ahead
Brazil is moving to regulate cryptocurrencies more closely. In an online event held on Thursday, the president of the Central Bank, Roberto Campos Neto, said that the Central Bank and CVM are discussing the regulation of cryptocurrencies.
"It is important to inform that this arises from a need that people have for payments to be fast, open, secure and transparent in all respects," he said.
