Binance, the world’s largest cryptocurrency exchange, continues adopting new leverage trading restrictions on its futures platform in a move to expand consumer protection.
After introducing a 20x leverage limit for new users on July 19, Binance Futures is preparing to apply the same limit for existing users soon, Binance CEO Changpeng Zhao announced Sunday.
“We didn’t want to make this a thingy,” the CEO said, noting that the new restrictions will be applied “over the next few weeks.”
.@binance futures started limiting new users to max 20x leverage last Monday, Jul 19th, 7 days ago. (We didn’t want to make this a thingy).
In the interest of Consumer Protection, we will apply this to existing users progressively over the next few weeks.
— CZ Binance (@cz_binance) July 26, 2021
Effective last Monday, new users with registered Binance Futures accounts of less than 30 days were prohibited from opening positions with leverage exceeding 20x. The new leverage limits will also apply to existing users with registered futures accounts of less