DEFI MAGNETS
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Binance
  • Dogecoin
  • XRP
  • DeFi
  • Market
Saturday, March 25, 2023
No Result
View All Result
DEFI MAGNETS
No Result
View All Result
Home Binance

Binance parts ways with CEO of Australian business

Frank Miller by Frank Miller
March 12, 2023
in Binance
0
Binance parts ways with CEO of Australian business
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Binance’s Australian subsidiary has parted methods with its chief govt officer Leigh Travers.

Travers joined Binance Australia in August 2021 coming from DigitalX, the world’s first publicly-listed blockchain agency. He spent there greater than seven years, and beforehand served on the board of main native blockchain trade physique, Blockchain Australia.

On the time, Binance mentioned Travers will prioritize constructing Binance Australia’s relationships with regulators and rising the corporate’s model.

Travers’ departure comes amid debate and controversy round Binance Australia after it closed derivate positions of some customers. The crypto alternate acknowledged that it had incorrectly labeled 500 Australian customers as “wholesale traders.”

As per regulation, Binance was required to terminate providers to those accounts instantly, however mentioned it’ll absolutely compensate affected customers for the losses incurred whereas buying and selling derivatives.

Binance resumed providing its futures, choices, and leveraged tokens merchandise to Australian crypto merchants in July 2022. The native arm of the world’s largest crypto ecosystem, Binance Australia Derivatives, has launched over-the-counter (OTC) by-product merchandise for wholesale clients underneath its Australian Monetary Companies Licence.

The transfer got here practically 10 months after Binance suspended derivatives buying and selling actions in Australia amid elevated regulatory strain. The crypto alternate, the most important on the earth by quantity, additionally stopped providing crypto derivatives merchandise in Brazil and Hong Kong, to get forward on compliance because it has drawn scrutiny from regulators worldwide.

For CFDs brokers, the most important blow has been ASIC’s choice to restrict how a lot leverage they’ll provide to their shoppers to juice up bets. Regulated corporations have been compelled to restrict the leverage they provide to a most of 30:1.

Moreover, the foundations mandate damaging account safety, guaranteeing that clients can not lose greater than their buying and selling stake, avoiding a repeat of the debacle following the 2015 Swiss Franc collapse. Lastly, the foundations forbid bonuses and different incentives, whether or not financial or non-monetary, that will have inspired overtrading lately.

The brand new guidelines have been launched in 2020 and successfully harmonize ASIC’s necessities with product approval necessities launched in Europe by ESMA, which additionally banned providing binary choices and restricted leverage on CFDs.



Source link

Tags: AustralianBinanceBusinessCEOpartsways
Previous Post

Bitcoin Crash: Derivative Traders Lose $202 Million In 24 Hours

Next Post

Ripple Is In Dialogue With Over 20 Central Banks On CBDCs

Next Post
Ripple Is In Dialogue With Over 20 Central Banks On CBDCs

Ripple Is In Dialogue With Over 20 Central Banks On CBDCs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Bank of England and UK Treasury Supports ‘Digital Pound’ Project, Says UK is Likely To Need CBDC

Bank of England and UK Treasury Supports ‘Digital Pound’ Project, Says UK is Likely To Need CBDC

March 10, 2023
#Binance Has Completed the @StargateFinance $STG Contract Swap. …

#Binance Has Completed the @StargateFinance $STG Contract Swap. …

March 10, 2023
Cryptocurrency prices soar on support for Silicon Valley Bank depositors

Cryptocurrency prices soar on support for Silicon Valley Bank depositors

March 13, 2023
GPT-4 is Here: What You Need to Know About OpenAI’s New ChatGPT

GPT-4 is Here: What You Need to Know About OpenAI’s New ChatGPT

March 20, 2023
Bitcoin [BTC] to slide under $20k soon? These metrics suggest…

Bitcoin [BTC] to slide under $20k soon? These metrics suggest…

March 18, 2023
Stably USD Stablecoin Launches on XRP Ledger

Stably USD Stablecoin Launches on XRP Ledger

March 13, 2023
Bitcoin [BTC] can witness a further price hike if these factors are checked

Bitcoin [BTC] can witness a further price hike if these factors are checked

March 25, 2023

Terra Founder Do Kwon Reportedly Arrested in Montenegro

March 23, 2023

HedgeUp (HDUP), Dogecoin (DOGE) and Solana (SOL) Could Reach 1000x Growth in 2023

March 11, 2023

81% of Bitcoin (BTC) traded on exchanges in February was on Binance

March 24, 2023

LinkedIn’s New AI Tool to Improve User Profiles and Job Descriptions

March 22, 2023

What Does a Risk Analysis Say About DeFi Bids (BID) Tuesday?

March 21, 2023

BRIEF-Binance CEO Says Given Recent Events, We Are Moving 0 Fee BTC Trading From BUSD To TUSD – Tweet – Devdiscourse

March 15, 2023

XRP cryptocurrency jumps as investors hope Ripple will win SEC case

March 22, 2023

Equities traders bear cost of US crypto enforcements

March 10, 2023

YouTube Becomes Breeding Ground For AI-driven Malware Attacks

March 20, 2023

Recent News

Congressman Says TikTok Ban Won’t Ensure Americans’ Data Safety

Congressman Says TikTok Ban Won’t Ensure Americans’ Data Safety

March 25, 2023
Script Writing and 5 Other Ways You Can Make Money Using GPT-4

Script Writing and 5 Other Ways You Can Make Money Using GPT-4

March 25, 2023

Categories

  • Artificial Intelligence
  • Binance
  • Bitcoin
  • Blockchain
  • Business
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • DeFi
  • Dogecoin
  • Education
  • Featured
  • Market
  • News
  • XRP

Follow Us

Find Via Tags

bank banks Big Binance Bitcoin Blockchain Blog BTC CEO Chain Coin Coinbase Crypto Cryptocurrency DeFi DOGE Dogecoin Ethereum Eyes Finance Heres IBM Inu Launches Market network Presale Price Ripple SEC Sentiment Shiba Silicon Stablecoin Supply SVB Token traders Trading Tweet USD USDC Valley Whats XRP

© 2023 Defi Magnets | All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Binance
  • Dogecoin
  • XRP
  • DeFi
  • Market

© 2023 Defi Magnets | All Rights Reserved