Bainance Digital Currency Exchange intends to limit its futures contracts to its users in the near future. A few days ago, this exchange had restricted the access of new users to trading levers more than 20 times.
to the Report The Block, Changpeng Zhao, co-founder and CEO of Bainance Exchange, tweeted on Sunday that the Bainance futures platform has restricted new users’ access to trading leverage by more than 20 times since July 19 (July 28). Is.
In order to protect consumers’ rights, we will gradually apply this restriction to all users in the coming weeks.
The move comes two months after Bainance announced it was backing up to 125 times the Bitcoin / Tetra (BTC / USDT) market pair contracts.
In the past two months, Baines has faced backlash from lawmakers in several countries, including the United States, Canada, the United Kingdom, the Cayman Islands, Italy, Poland, Japan, Hong Kong, Thailand and Singapore.
Hong Kong-based digital currency exchange FTX has implemented a similar policy, reducing its maximum futures leverage from 101-fold to 20-fold.
Sam Leckmann Fried, founder and CEO of FTX Exchange, said high-leverage trading accounts for only a small portion of the exchange’s trading volume.