LATEST NEWS: Binance’s decision to restrict transactions in Germany, Italy and the Netherlands

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Binance, the world’s largest cryptocurrency platform, has announced that it will reduce its futures and derivatives offerings across Europe.

In a statement on its official website, it said that its users in Germany, Italy and the Netherlands will not be able to open new futures or derivatives accounts with immediate effect.

Binance stated that people in the mentioned country should close their open trades within 90 days.

In the statement, it was announced that product reviews continue in line with the needs of users and partners, while other countries in Europe will be phased out.

Following the announcement, Bitcoin fell 4 percent in 15 minutes and hit 38,300 levels.

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