Binance waiting to get regulatory approval in Spain: Halts Derivative trading
Reportedly Binance exchange halted derivatives trading for the crypto investors of Spain.
Binance is a global crypto exchange, which is standing at first rank due to its high quality & secure services. The exchange has its hand in almost every type of business in the crypto industry, whether it is a revenue model-based business or the educational non-profit sector.
Recently La Información, a local news media outlet in Spain, reported that the Binance exchange removed the derivatives menu button from its homepage dashboard for the Spanish users.
Here nothing is 100% confirmed, why the exchange took this decision but few reports noted that the exchange is currently under the efforts to get regulatory approval from the Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV).
Local media reports noted that Binance will enable the derivatives option soon, just after getting a guarantee certificate from the Bank of Spain (BdE).
At the time of writing this article currently futures, battle, and derivative portals are active on the Spanish version of the Binance exchange.
Binance aim to be licensed globally
Last year, the Binance exchange faced huge scrutiny iasues from Global regulators. In July 2021, Changpeng Zhao, CEO of Binance exchange, announced that the exchange will work to become globally regulated.
“We want to be licensed everywhere. From now on, we’re going to be a financial institution.”
Reportedly Binance exchange is in talks with Elon Musk to help him in the acquisition of the Twitter platform. These things are showing that the Binance exchange wants to remain active in almost every sector of technology.
Majority of the crypto proponents of the crypto industry supported the Elon Musk’ Twitter acquisition plan, in order to get a spam free social media platform for this crypto industry.
Personally, Elon is holder of Bitcoin, Ethereum and Dogecoin.
Read also: African analysts raise concerns on CAR’s Bitcoin adoption
