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Binance resumes futures trading in South Africa

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The Binance cryptocurrency exchange announced that it had settled all disagreements with the South African regulator and resumed offering futures products in the region.

A year ago, Binance blocked users from South Africa from accessing its futures trading platform after the Financial Sector Supervision Authority (FSCA) warned the public about the inadmissibility of transactions with Binance. The regulator also said that the exchange is not authorized to provide financial advice or intermediary services in South Africa.

However, now the exchange has announced that perpetual futures contracts and supply contracts are again available to users from this region. At the same time, the type of futures products offered has not changed. Binance reported that over the past year it has managed to settle differences with the regulator and its activities in the region are allowed.

"From September 26, 2022, perpetual and deliverable futures contracts for USDS-M and COIN-M will be available to South African users on Binance through a legal representative agreement with FiveWest OTC Desk Ltd," the exchange said in a statement.

Earlier it was reported that Binance had requested permission from the FSA to work in Japan. The request is due to the softening of the position of the government of the country in relation to cryptocurrency companies.

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