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Binance Australia Cancels Derivatives License, Will Continue to Operate Spot Exchange in the Country

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Binance Australia has requested to cancel its derivatives license, causing some confusion and misinformation about the platform's future in the country. The platform had only 104 users as of yesterday, according to reports.

However, the company clarified that it will continue to operate the spot exchange in Australia. The move to cancel the derivatives license comes amid increased regulatory scrutiny of Binance in various countries around the world. Despite the cancellation, Binance Australia will remain operational in the country, providing a spot exchange for cryptocurrency trading.

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