Binance began kicking U.S. customers off its platform in November—even though it had closed its platform to Americans on June 14, 2019—after setting up the independent exchange Binance.US in the country. At the time, Binance CEO Changpeng “CZ” Zhao said Binance.US would “bring the security, speed, and liquidity of Binance.com to North America,” in full regulatory compliance with all U.S. laws.
“We have seen no signs of that abating," said McDermott. "And when we talk about institutional demand, we talk about the whole cross section of the industry sectors... And when I talk about the broad spectrum, I'm referring to hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance, and pension funds.”
In October, the United Kingdom financial market regulator FCA prohibited the sale of such derivatives to retail customers, suggesting that the average investor cannot understand them. FXOpen’s moves puts it in compliance with those rules.
The new feature “will provide a better trading experience for users, improve the capital efficiency of their funds and enable greater cross-exchange arbitrage opportunities," said OKEx head of financial markets, Lennix Lai. “This is hugely beneficial to traders carrying out cross-exchange arbitrage.”
