Fellow Binancians,
In line with regulatory requirements, Binance Bahrain B.S.C. (c) will become the entity that provides services for derivatives products for South African residents as a Juristic Representatives of FiveWest OTC Desk (Pty). By doing this, Binance ensures that it continues to comply with its regulatory obligations and can continue to provide services for derivatives products to South African users.
What Does This Mean for South African Derivatives Users:
South African derivatives users will need to register a new account with Binance Bahrain and accept the applicable Terms of Use. Users will need to resubmit all required Know-your-Customer (KYC) documentation in order to comply with Bahrain regulatory requirements.
What Does This Mean for Binance:
Binance will be able to continue serving South African users in compliance with local regulatory requirements. Binance Bahrain is able to provide crypto exchange and custodian services in line with its Licence by the Central Bank of Bahrain as a Category 4 Crypto-Asset Service Provider to operate a crypto-asset exchange.
Thank you for your support!
Binance Team
2024-09-02
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
