“All of your margin balance may be liquidated in the event of extreme price movement,” Binance stated.
Despite an intensifying regulatory crackdown, global cryptocurrency exchange Binance limits support for several of its trading services.
Binance said on Monday that three fiat currencies, the Euro (EUR), the Australian dollar (AUD), and the British pound sterling (GBP), would be delisted from its margin trading pairings (GBP).
Binance will stop the mentioned fiat trading pairs on August 10 and subsequently switch to automatic settlement and cancel any pending connected orders, according to the release. Furthermore, by August 12, the isolated margin trading pairs will be completely delisted from the exchange.
The current trading restriction is in keeping with Binance’s proactive attempts to reduce trading risks, as well as its recent move to drastically limit leverage trading on Binance Futures, lowering maximum leverage holdings from 125x to 20x.
- “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 announcement notes.
The disclosure comes as Binance has recently come under heightened scrutiny from international regulators and financial organizations. Authorities in the United States, the United Kingdom, Italy, and other nations have issued several warnings to the exchange. In addition, since late June, some British financial institutions, including Barclays and NatWest, have begun restricting payments to Binance.